Comment on Federal Reserve is set to cut key rate but consumers might not feel much benefit anytime soon

Federal Reserve is set to cut key rate but consumers might not feel much benefit anytime soon

By CHRISTOPHER RUGABER WASHINGTON (AP) — Federal Reserve officials on Wednesday will likely signal a slower pace of interest rate cuts next year compared with the past few months, which would mean that Americans might enjoy only slight relief from still-high borrowing costs for mortgages, auto loans and credit cards. The Fed is set to announce a quarter-point cut to its benchmark rate, from about 4.6% to roughly 4.3%.

 

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