"The Federal Reserve is like a bank's bank," New York Times reporter Jeanna Smialek explained. "It has all these relationships with banks around the country, and they set interest rates."Smialek and Mark Goldwein of the Committee for a Responsible Federal Budget helped demystify what an interest rate cut would mean for you.Want to support 1A? Give to your local public radio station and subscribe to this podcast. Have questions? Find us on Twitter @1A.