Federal Reserve is set to cut key rate but consumers might not feel much benefit anytime soon
Wednesday, 18 December 2024 () Federal Reserve officials on Wednesday will likely signal a slower pace of interest rate cuts next year compared with the past few months, which would mean that Americans might enjoy only slight relief from still-high borrowing costs for mortgages, auto loans and credit cards. The Fed is set to announce a quarter-point cut to its benchmark rate. The latest move would follow a larger-than-usual half-point rate cut in September and a quarter-point reduction in November. Wednesday’s meeting, though, could mark a shift to a new phase in the Fed’s policies: Instead of a rate cut at each meeting, the Fed is more likely to cut at every other meeting — at most.
"How do you End The Fed?” is a common question. Since the government created the Fed by signing the Federal Reserve Act in 1913 (yes, The Fed is a government-created monopoly) then the..
Wednesday, 18 December 2024 ()
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