What the new Fed rate cut means for Americans’ finances

The Federal Reserve announced a quarter percentage point reduction on Thursday, two months after the half-percentage point cut back in September. Chairman Jerome Powell said the election would not impact its decision-making in the short term. ETF.com editor-in-chief Kristin Myers joins “The Daily Report” to discuss what the move means for Americans’ wallets.

[jeffreycheng]

"Give me control of a nation's currency, and I care not who makes its laws."- Mayer Amschel Rothschild.

[sonnyrico]

The home loans need to get back to 3% or close to where they were

[macharrington]

Most things I buy at the drugstore, grocery store, or restaurant are DOUBLE what they were five years ago.

[johnwolf]

THIS IS WHERE VIVEK COMES IN, WITH ELON- THEY WILL JUST FIRE THE ENTIRE FEDERAL RESERVE. WHICH IS WHAT I THINK THEY BEEN THINKING FOR A LONG TIME.

[JAXTRPTR]

Queue all of the people calling lenders about mortgage rates going down....only to find out that the bond market was turned on it's head by the election and mortgage rates increased as a result. Mortgage rates actually went up today after the rate cut.

[techserviceondemand]

Has ANYBODY seen lower credit card interest rates?

[jeffsmith]

Thanks for the stagflation! Great job!

[SuperDeluxe]

-0.25% wow thats really going help. LOL.

[BryantWoo]

questioning if Trump can say "YOU'RE FIRED" - what has this world come to ? <facepalm>

[USAstrong]

Went up 10 points now down a quarter, yeah whatever you crooks!!!

[ShaneFreytag]

That's why it's so high because of the last amenastratio

[glockdude]

The economy is so great, they have to keep doing this. 😆

[GirlFridayOnTuesday]

I wonder if Mr. Powell went to Trump’s Halloween party again this year

[mjlh]

Sorry honey but rate cuts do not lower existing credit card rates. I have a 802 credit score and the rates on my 2 primary cards have never gone down.

[trappedinamerica]

So are they lowering it to help Trump or has the economy stabilized enough under Biden to lower the rate?

[davidphillips]

So now we know who really controls the economy. They raised the prime interest rate to 21% by the end of the 70's and beginning of the 80's right in the middle of a project my father and his partners had started, Union Square in Lakewood Colo. And who wanted by buy parcels to develop at 21% interest? No one. It rose fast between the mid 70's and beginning of the 80's and his dreams were wiped out. It ruined his life. He had everything invested, and lost his and mom's 3.1 million dollar home and almost died of a grand mal seizure and I'll never forgive the Fed Reserve for that. This is an evil organization and Gen Z should end their existence as whatever the heck group that are supposed to represent, because they aren't in our best interest.

[BlazeAzSd]

It probably cannot go up to the Supreme Court, but think what will happen if it does.

[Jean_in_Stillness]

Jerome "Pile?
Well, there ya go.. 😄

[GMunoz-ojzb]

So things will get cheaper and Trump will take credit for it

[richyp]

I live in Philly and I'm horrified at the number of red hats waving american flags and shouting USA in my blue sanctuary city. We should all be absolutely terrified at what we're witnessing.