Simply put, the Fed pulled off a magic trick that would leave Houdini gasping. Janet Yellen and the Fed took the made-up money and bought Wall Street assets that would have otherwise crashed and gave money to Wall Street banks that would have otherwise gone bankrupt...with no strings attached.

Progressive nerds love the idea.

You've probably heard by now that the Federal Reserve executed a long-awaited interest rate hike in December. Though this move was both inevitable and sorely needed, it's not great news for borrowers. In fact, your student loan interest rates might have gone up as a result.