Elizabeth Renter, an economist at NerdWallet, stated, "Squeezed between high prices and high interest rates, the message behind even a modest initial cut will be that relief is on the way." This highlights how interest rate changes will influence consumer behavior and expectations.
Charlie Wise, head of global research and consulting at TransUnion, noted, "But if rates continue to drop over time, that does start to really add up in terms of how much consumers pay on interest for credit cards." This indicates the potential long-term financial benefits of a rate cut.
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