Narayana Kocherlakota explains why the Fed matters to you

The Federal Reserve’s Open Market committee will meet next week and they (probably) won’t raise interest rates — if you believe in stock market tea leaves.

Narayana Kocherlakota, the former president of the Federal Reserve Bank of Minneapolis and currently an economics professor at the University of Rochester, was once one of the members in room that had to make decisions about interest rates and discuss other aspects of the economy.

While their decisions can feel pretty distant from your own life, their decisions matter more than you think.

Click play above to hear our full interview with Narayana Kocherlakota and his thoughts on the goals of the Fed and income inequality in the country.