Fed Rate Announcement - Lowered By Quarter Point

As was widely expected, Federal Reserve officials cut interest rates by a quarter point today. The thought would be that it would give the US economy, working on a 10-year-old expansion, a shot in the arm. However, Chairman Powell said that it was only an “adjustment” and to not expect a long term trend - stocks responded accordingly this afternoon. However, in the interim, you might be wondering what all this means for you, the consumer? Read on!