GRAPHIC-What the Fed rate cut means for your wallet
The U.S. Federal
Reserve’s decision on Wednesday to lower interest rates may do
little to cut some of the costs that matter to many consumers.
From mortgages to credit cards, banks and other lenders may
resist offering substantially lower rates to consumers, analysts
said, despite the central bank’s widely expected cut, which
pulls its target policy rate down between 2% and 2.25%
Reserve’s decision on Wednesday to lower interest rates may do
little to cut some of the costs that matter to many consumers.
From mortgages to credit cards, banks and other lenders may
resist offering substantially lower rates to consumers, analysts
said, despite the central bank’s widely expected cut, which
pulls its target policy rate down between 2% and 2.25%
Posted by Reuters