So by now you’ve heard the news. On Wednesday, the Federal Reserve announced a quarter-percentage-point cut to its benchmark interest rate, lowering it to a range of 4% to 4.25%. Federal Reserve Chairman Jerome Powell referred to the interest rate drop as a “risk-management cut,” due to shaky unemployment numbers.
So, for the foreseeable future, borrowing money should be a little cheaper for the public.
And what does this mean for you? The interest rate cut will bring some changes to the economy, ranging from welcome news to not-so-welcome. How will you fare? Check out our “what this all means for you Fed rate interest cut” guide and our unscientific excitement meter, ranging from a lackluster 1 to a thrilling 10.
People Selling And Buying Homes
The excitement meter: 3
