Tyler Schipper, economist and associate professor at the College of Arts and Sciences at the University of St. Thomas, spoke with KARE 11 about how Federal Reserve interest rate cuts could affect Americans.
From the story:
“We might see some changes in mortgage rates and some downward pressure would be great for people who are trying to buy or sell homes, but it won’t be as direct or as immediate as the credit card rates,” Schipper said.
It’s difficult to say whether a 0.25% rate cut will make a meaningful difference for the average American household.
Americans who are struggling with credit card debt may not notice a 0.25% change on their bill, when many credit card borrowers are paying an interest rate that is higher than 20% on their credit card bills.
