Fed cuts interest rates by 0.25 percentage points

Breakdown

• The Federal Reserve announced a 0.25 percentage point interest rate cut. 7s
• The rate cut was expected by financial experts and brought relief to markets. 28s
• Borrowing costs for consumers, including credit cards and mortgages, will decrease slightly. 39s
• Small businesses may benefit from the lower rates when seeking loans. 1m 9s
• The overall impact for the average American is a modest reduction in borrowing costs. 1m 19s