This chapter explores the Federal Reserve's surprising decision to lower interest rates by half a percentage point and its implications for the economy. It focuses on the Fed's concerns about the labor market and offers insights into how the rate cut will affect various sectors, particularly the housing market and consumer spending. The discussion also highlights the anticipated benefits of lower borrowing costs for businesses and households amidst rising inflation pressures.
The Federal Reserve announced a highly anticipated rate cut of half a percentage point today — larger than many watchers anticipated. Which industries and companies will feel this interest rate cut the most, and what will it mean for everyday consumers?
Bloomberg’s Enda Curran joins host Sarah Holder to talk about what effects we can expect to see as the rate cut ripples through the US economy and the world — and hits our wallets.
Read more: Rent Is the Stubborn Part of the Inflation Story
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