Reported about 23 hours ago
The Federal Reserve has cut its benchmark interest rate by a quarter point for the second time since September, affecting various financial products like credit cards, auto loans, and mortgages. While lower rates can ease some financial burdens and encourage spending, they may also lead to decreased interest on savings accounts. The Fed's dual goal is to manage inflation and promote employment, but with current inflation exceeding targets, the economic impact of this rate cut will unfold over time, especially for borrowers and savers.
Source: YAHOO