Federal Reserve Bank leaders, working to prevent an economic slowdown, begin two days of meetings on Tuesday. Economists predict they will announce an interest rate cut of 25 basis points, or a quarter of a percent. It would be the second cut this year. I joined CBS This Morning to discuss how this could affect your bottom line.
The cost of borrowing is going down, but so is the return on savings, after the Federal Reserve cut a key interest rate. I joined the CBS Evening News to explain how it will impact Americans.
Short-term interest rates are higher after the Fed raised rates Wednesday by a quarter point, to a range of 2.25 percent to 2.5 percent. It's the fourth rise this year and the highest level since 2008. The Dow closed down almost 352 points after the announcement, the lowest close of the year. How does the rate rise impact Americans? I discussed on CBS This Morning.
Have a money question? Email me here.
The Federal Reserve raised its key interest rate by a quarter percent Wednesday, marking its fourth increase this year. The news caused stock markets to reverse course. I discussed on the CBS Evening News.
Have a money question? Email me here.
