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The Fed’s Interest Rates and Other Imaginary Friends

Here is a fact about finances that feels like it can’t possibly be true:


Money doesn’t actually exist.


Yeah, I know. Sounds crazy. But even though money is a mundane (and often stress-inducing) part of our everyday lives that affects every single person in the world, money is actually nothing more than a huge and amorphous idea that we all share.


Money may be valuable, but that’s only because we have all agreed to treat it as valuable. It ca