Yesterday, the U.S. Federal Reserve cut interest rates by half a percentage point to about 4.9%, marking the first rate cut in four years.
By lowering interest rates, the Fed is hoping to lessen pressure on businesses and consumers... if they lower interest rates too much, too fast, we could see inflation jump again.
Interest rate cuts mean mortgages, car loans, and credit card debt should cost slightly less, which directly affects most consumers.
With borrowing easier for businesses, they have access to more money to hire more employees... there will (hopefully) be more openings available.
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