The central bank’s move will have a ripple effect on many of the borrowing and savings rates consumers see every day. The federal reserve's interest rate cut will have a gradual impact on mortgages and credit card relief could be slow. The federal reserve cut rates again at its october meeting
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Here’s how it could impact your finances written by written by staff money writer, wsj | buy side molly grace is a staff money writer.
The federal reserve has cut its benchmark interest rate by a quarter point for the second time since september
Before that, it had gone nine months without a cut. The federal reserve on wednesday cut its benchmark interest rate by 0.25 percentage points, but chair jerome powell hinted that the central bank might pause before further lowering borrowing costs. The federal reserve was widely expected to lower interest rates by a quarter point in order to support the waning job market. Fed cuts rates as officials worry about labor market the federal reserve cut interest rates by a quarter point for the second time this year
Investors lowered the probability of a cut at the fed. In recent months, inflation has picked up while hiring has slowed The federal reserve cut its benchmark interest rate a quarter of a percentage point on wednesday, opting for its second interest.
