What the Fed’s rate cut means for you

Posted on AllSides September 18th, 2019
From The Left

The Federal Reserve has cut its benchmark interest rate again, big news for the U.S. economy but something that will likely have a muted impact on Americans’ personal finances, experts say.

That’s because the reduction doesn’t offset the increases of recent years. And as the key rate creeps closer to zero, financial institutions are less eager to pass borrowing benefits along. Lower rates could also further dampen the perks of savings.

As a reminder, the Fed slashed its benchmark rate — which affects a host of consumer and business loans...

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https://www.apnews.com/fbecae2b7e7c4c62b2e90a2d125007dd

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