US Fed rate cut splits opinions just weeks before election

  • 4 days ago
US Fed rate cut splits opinions just weeks before election

New Yorkers share their thoughts as the US Federal Reserve cut its key lending rate by half a percentage point in its first reduction for more than four years. Wall Street shares bounced at the open after falling the previous day, even though the Fed's rate reduction that many investors had hoped for was double the size some had predicted. The aggressive cut split opinion among analysts, with some warning it could reignite inflation, while others said it showed the bank was keeping ahead of the curve in supporting the economy.

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Transcript
00:00For the average American consumer, it's going to cost less for them to manage their
00:28debt.
00:29Their credit cards, their home equity loans, any major purchase down the road should cost
00:37less money.
01:01I've unfortunately kind of built up a little bit of credit card debt, so any kind of rate
01:18cut will definitely help me pay it off sooner.
01:20I mean, I'm not really planning on buying a house or car anytime soon, but it will definitely
01:26help pay off my credit cards.

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