It's Official: Interest Rate Cuts Are (Almost) Here

"Jerome Powell, who is the chairman at the Federal Reserve Bank, gave a speech where he said, quote, "The time has come for the central bank to begin lowering interest rates.""

"So if you have a high yield savings account or a regular savings account, you can expect that if the Fed starts cutting interest rates that the interest rate that you get is going to fall."

"but if you want to get a new CD, the new rates after the rates get cut could be lower."

"if mortgage rates get affected by this, which they very likely would, that means that mortgage rates could go down, your car loan rates could go down, your refinance rates could go down, your credit card debt rates could go down"