Similar Stories to The Federal Reserve Is Finally Lowering Rates. Here’s What Consumers Should Know on Bing News

The Associated Press, Denver Post: Business
Wed, 09/18/2024 - 11:18am

By CORA LEWIS NEW YORK (AP) — The Federal Reserve has cut its benchmark interest rate from its 23-year high, with consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses. On Wednesday, the Fed announced that it reduced its key rate by an unusually large half-percentage point, to between 4.75 and 5 percent, the first rate cut in more than four years. Related Articles Business | Delays and price hikes at Vinyl Me, Please anger subscribers as Denver record club struggles to right itself Business | Denver’s new guard of restaurateurs is adjusting to higher wages, rising costs Business | Denver subpoenas 3 strip clubs in first use of new tool to investigate wage theft Business | Kroger and Albertsons make a final pitch for their merger before a judge decides whether to block it Business | Casa Bonita reservations sell out on first day The central bank is acting because, after imposing 11 rate hikes dating back to March 2022, it feels confident that inflation is finally mild enough that it can begin to ease the cost of borrowing.

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