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YOUR MONEY with Mark: How the government's trying to help people impacted by COVID-19

There are a number of ways the Fed's doing it. Investment Advisor Mark Grywacheski explained the interest rate portion Wednesday, June 3rd.

The Fed is slashing interest rates to near zero and creating numerous emergency lending programs, in wake of the COVID-19 pandemic. That allows people to keep more money in their pockets, not having to pay as much for the things that they buy. 

"Within the next 12 months, I don't think The Fed will risk raising interest rates, which again would inherently reduced consumer and business spending on an already very fragile U.S. economy," Investment Advisor Mark Grywacheski said Wednesday, June 3rd during Your Money on Good Morning Quad Cities.

Grywacheski says the The Fed won't raise interest rates until it has some sort of confidence the econonmy and labor market are on a sustained path to full recovery.

There's recently been talk about interest rates going into negative territory, but what does that mean? Grywacheski got into that Wednesday as well.

Your Money with Mark airs every Monday during Good Morning Quad Cities in between 5 and 5:30 a.m., except for two special Wednesday sessions on May 27th and June 3rd. For more on Wednesday May 27th's interview, click here.