What will a US Federal Reserve interest rate cut mean for me?

Published On Sep 17, 2024, 3:16 PM

The Federal Reserve is expected to announce a cut in interest rates, possibly the first in four years, with implications for mortgages, loans, and the global economy. Lower rates could enhance loan affordability for consumers and businesses while potentially boosting stock prices as investors shift from savings to stocks. This move comes amid a declining inflation rate and rising unemployment, prompting considerations about economic stability. The exact size of the rate cut is uncertain, but it may mark the beginning of ongoing reductions over the next year.