Reported about 2 months ago
The Federal Reserve is set to lower its benchmark interest rate from a 23-year high, with three expected cuts in the coming months. Consumers should consider locking in savings yields now, as rates are projected to decline. While immediate effects on credit card debt will be limited, lower rates could eventually ease borrowing costs. Mortgage and auto loan rates may also decrease, although consumers should shop around for the best deals. Market reactions will depend heavily on inflation trends and employment data.
Source: YAHOO