What the Fed Rate Cut Will Mean for Your Finances
The Federal Reserve cut its benchmark interest rate Wednesday for the first time in nine months. Since the last cut, progress on inflation has slowed while the labor market has cooled. That means Americans are dealing with both high prices and a challenging job market.
The federal funds rate, set by the Federal Reserve, is the rate at which banks borrow and lend to one another. Follow link to read more from the AP. https://apnews.com/article/rate-cut-federal-reserve-loan-personal-finance-dbfb08190a6392dbd745f7cc863061cb