According to Jinshi Data, Michelle Raneri, head of US research and consulting at TransUnion, said the latest rate cut decision showed that the Fed was satisfied with the impact of the gradual rate cuts. The Fed expects that continued rate cuts may have a positive impact on the economy.
While interest rates on credit cards, mortgages and auto loans may not be significantly affected immediately, consumers should keep an eye on these rates and make sure their credit is in good shape so they can benefit when rates fall.
