What the Fed's rate cut means for your wallet
CBS America · Recent
CBS America
Recent
The Federal Reserve has lowered interest rates for the second time in a row. The Fed announced a quarter of a percentage point rate cut, which falls in line with what economists expected.
Breakdown
- The Federal Reserve lowered interest rates by a quarter percentage point. 3s
- Fed Chair Jerome Powell stated no decision has been made about future rate cuts. 10s
- The rate cut has limited impact on consumers but could benefit small business owners. 35s
- Mortgage rates have been falling, but future declines are uncertain due to Fed signals. 1m 7s
- The Fed is closely monitoring the labor market and inflation before making further decisions. 1m 46s