Key takeaways
- The Federal Reserve’s interest-rate decisions have a wide-ranging influence on the economy, affecting job security, financing costs and the direction of the economy.
- When the Federal Reserve’s key interest rate falls, borrowing costs for consumers also decrease, influencing the cost of financing purchases with credit cards, car loans, and personal loans.
- The Federal Reserve is gearing up to cut interest rates for the first time since 2020, but the cost of borrowing remains historically high thanks to how…
