When it comes to what Americans can afford, no institution looms larger than the Federal Reserve. The nation’s central bank, commonly known as the Fed, doesn’t set the price of groceries or cars, but it does influence how expensive it is to borrow money. Right now, borrowing is costly. High interest rates mean larger monthly payments on mortgages, car loans and credit cards, even if the price of a home or vehicle hasn’t changed. WEAKENING INCOMES ADD NEW STRAIN TO HOUSEHOLDS ALREADY HIT BY HIGH PRICES That’ ...