How the Fed rate cut could impact your wallet, according to Biden adviser

The Federal Reserve reduced its benchmark interest rate for the first time in more than four years on Wednesday. The move will directly impact the finances of millions of Americans. Jared Bernstein, chair of the White House Council of Economic Advisers, joins "America Decides" to discuss.

[Debbiepolowy]

The US economy is already in recession. Now rate cut will ignite inflation. The banks will tighten even more, all consumer and corporate credit lending. This is the beginning of a deflationary period for your assets. Stocks markets will decline, and stock values disappear in a blink of the eye. Businesses will begin layoffs in earnest which will soon be reflected in the unemployment rate and unemployment claims, to further solidify the recession. In fact, Now that the FED cut rates in Sept, it will signify that the Titanic is going under, and it will suck everything down. Retail and housing sales will truly decline as consumer hold off their purchases. The inverted yield curve will then turn positive, but remember, certain assets like stocks and Crypto’s acts as a hedge. Long & short-term trading is generally safer, allowing investors to weather market volatility. I have managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Linda Wilburn, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[noahname]

20% inflation in under 4 years? It’s beneficial? You need to retire and lose your pension.

[commonsense]

Note the word "could" in the video heading. If you are buying a car or house in the future, saving 1/2 a percentage point is helpful. However, for the majority of Americans who are paying the day-to-day costs of inflation and whose expenses are already set, it does not move the needle at all. Additionally 1/2 a point does not mean much, even for buying a car or house, is there is not enough available stock or if the prices are already too high. MORE THAN JUST SAYING...

[invisiblesun]

Not going to benefit short term Treasuries much when folks dump them and look for greener pastures. But it's sure to put a rise in Wall Street's Levi's.

As for the impact, well, depends on how much it'll affect the COLA increase next month.