Reported 20 days ago
The Federal Reserve has implemented a half-point cut in short-term interest rates, marking a significant shift from previous hikes aimed at combating high inflation. As rates trend downwards, consumers may see lower interest returns on savings accounts, certificates of deposit (CDs), and higher borrowing costs for personal loans and mortgages. It’s recommended for financial strategists to monitor rates and optimize returns on savings while considering consolidation methods for existing debts, as credit card interest rates could also decline gradually.
Source: YAHOO