You are probably one of the millions of Americans who are concerned about the COVID-19 coronavirus and you are trying to best deal with all the news about it and the risk it imposes. We all are.
Besides the huge health risks, the world economy is dealing with the potential impact the virus is having on it. To help our economy withstand the threat from the rapidly spreading and scary coronavirus, the Federal Reserve sliced interest rates by the largest amount since 2008. While many financial experts feel that a Fed rate cut may not have any impact on what’s happening, it’s a big move that might have impact on the credit cards in your wallet, the rates you pay for a home loan or a refinanced mortgage, and many other borrowing costs, too. Whether it encourages the consumer to keep buying as they have been for the past several years during this medical crisis is another thing completely.Continue reading“The Fed’s March 3rd Surprise Interest Rate Cut”