Fed Cuts Rates: Impact on Mortgages, Jobs, and Savings

The Federal Reserve has cut interest rates for the third time this year, setting the stage for 2023 and beyond. This move will impact consumer prices, the job market, and businesses. Mortgage rates may cool down, while credit card debt becomes cheaper to pay off. Savers might see slightly lower returns on savings accounts, but home equity lines and small business loans could become more accessible. The labor market, though showing signs of weakness, could benefit from sustained rate cuts, potentially leading to more hiring and higher consumer spending.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.