Fed Rate Cut: Expert Explains Effect on Mortgage Rates, CDs
Federal Reserve officials on Wednesday cut the federal funds rate, or the rate at which banks borrow from each other, by 25 basis points, or 0.25%. The central bank’s rate-setting committee, the Federal Open Market Committee (FOMC), announced on Wednesday that the target range for the federal funds rate was 4.25% to 4.5%. Federal Reserve … Read more