Reported about 3 hours ago
The Federal Reserve is poised to cut interest rates for the first time in nine months, aiming to balance high inflation with a weakened labor market. This decision will gradually affect mortgages, offering relief to borrowers, while savers may see a decline in attractive yields on savings accounts. Auto loan rates are likely to remain high for a while, and credit card debt relief from the Fed's rate cut could take time to manifest. Overall, while there may be some positive effects, consumers should prioritize managing high-interest debt.
Source: YAHOO