What Impact May Rate Cuts Have?

August 30, 2024

Fed Rate Cuts Will Have an Effect Across the Board, How Will it Affect You?

The Federal Reserve is expected to cut its benchmark interest rate next month from its 23-year high, which could significantly impact consumer finances, including debt, savings, auto loans, and mortgages. Currently, most experts anticipate three quarter-point cuts by the Fed in September, November, and December, although larger cuts are also possible.
Federal Reserve Chair Jerome Powell stated at the Fed’s annual economic conference in Jackson Hole, Wyoming: “The time has come for the Fed to reduce interest rates. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.” Based on Powell’s remarks and recent economic trends, a quarter-point rate cut is widely expected next month, with additional cuts to follow.


What Do Rate Cuts Mean for Savers?

Savers should consider locking in attractive yields now, before rate cuts take effect. Greg McBride, Chief Credit Analyst for Bankrate, advises those considering Certificates of Deposit (CDs) or bonds to act quickly: “There is not a benefit to waiting because interest rates are going to be moving lower.” He also emphasized that those nearing retirement have an excellent opportunity to secure CDs at current high rates, ensuring a stable flow of interest income that should outpace inflation.

Impact on Credit Card Debt and Borrowing

Matt Schulz, Chief Credit Analyst at LendingTree, cautions that consumers should not expect immediate relief: “Your credit card bill is not going to plunge the day after the next Fed meeting. Nobody should expect miracles.” While declining benchmark rates will eventually lead to better borrowing conditions, current credit card interest rates remain high, averaging 23.18% for new offers and 21.51% for existing accounts, according to WalletHub’s August Credit Card Landscape Report.
In the short term, Schulz suggests that consumers explore options such as 0% interest balance transfers, low-interest personal loans, or negotiating better rates with their credit card issuers.

Mortgage Rate Trends

While the Fed’s benchmark rate doesn’t directly dictate mortgage rates, the two often move in tandem. LendingTree Senior Economist Jacob Channel notes that mortgage rates have already shown signs of declining ahead of the Fed’s anticipated rate cuts. This shift has sparked interest among homeowners considering refinancing.
Melissa Cohn, Regional Vice President of William Raveis Mortgage, highlights that many who locked in mortgage rates over the past 18 months at higher levels are now evaluating the potential savings of refinancing. “The outlook is good, and hopefully that spills into the real estate market, attracting more buyers,” Cohn said. However, with most Americans having mortgages around 5%, rates may need to fall further from the current average of 6.46% to drive significant refinancing activity.

Auto Loans and the Impact of Rate Cuts

For those considering auto loans, McBride notes that while falling rates are welcome news, it remains crucial to shop around for the best deal and aim to make a substantial down payment. He predicts that rate cuts, combined with avoiding a recession, could lower auto loan rates in 2024 for borrowers with strong credit. However, double-digit rates might persist for those with lower credit profiles throughout the year.

Economic Indicators: Inflation and Employment

The inflation rate showed a positive sign last month, with consumer prices rising just 2.9% in July compared to the previous year—the smallest increase in over three years. However, mixed employment data presents a more complex picture. Hiring in July was lower than expected, and the unemployment rate climbed to 4.3%, the highest in three years. These indicators point to a possible economic slowdown, although strong retail sales have helped ease recession concerns.
The Fed’s pace of rate cuts beyond September will largely depend on upcoming developments in inflation and the job market. As these factors evolve, the central bank will adjust its monetary policy to support economic stability and growth.

November 19, 2025
Every Thanksgiving morning, millions of people gather along the streets of Manhattan—or tune in from cozy living rooms across the country—to watch larger-than-life balloons, dazzling floats, marching bands, and performances fill the streets. The Macy’s Thanksgiving Day Parade has become an iconic piece of American holiday tradition, but its roots stretch back nearly a century. Here’s how this beloved celebration came to be—and how it grew into the cultural phenomenon we know today. Humble Beginnings: The 1920s The first Macy’s parade took place in 1924, making it one of the oldest Thanksgiving parades in the U.S. Macy’s employees—many of them immigrants—wanted to celebrate their new American traditions with a grand festival inspired by the street fairs and carnivals of their home countries. The debut parade featured: Live animals borrowed from the Central Park Zoo Floats pulled by horses Marching bands Santa Claus as the finale Even in its first year, the parade drew huge crowds. Macy’s quickly declared it an annual event. Humble Beginnings: The 1920s The first Macy’s parade took place in 1924 , making it one of the oldest Thanksgiving parades in the U.S. Macy’s employees—many of them immigrants—wanted to celebrate their new American traditions with a grand festival inspired by the street fairs and carnivals of their home countries. The debut parade featured: Live animals borrowed from the Central Park Zoo Floats pulled by horses Marching bands Santa Claus as the finale Even in its first year, the parade drew huge crowds. Macy’s quickly declared it an annual event. Growth Through the Mid-Century By the 1930s and ’40s, the parade had become a cherished national event. Important milestones include: 1932 – The parade was first broadcast on radio. 1942–1944 – The parade paused during WWII, when balloons were donated to help with the rubber shortage. 1945 – The parade returned bigger than ever. 1948 – NBC aired the first televised broadcast, bringing the spectacle into homes nationwide. Throughout the 1950s and ’60s, the parade expanded with more elaborate floats, celebrity appearances, and increasingly sophisticated balloon designs. Pop Culture Takes Over By the 1970s and 1980s, the parade had fully embraced modern entertainment. This era brought: Balloons of beloved characters like Snoopy, Kermit the Frog, and Superman Broadway performances becoming a staple Larger production budgets and national media coverage The parade evolved into both a celebration and a marketing phenomenon—yet still retained its charm and festive spirit. A 21st-Century Icon Today’s parade is a blend of high-tech engineering, pop culture, and decades-old tradition. Modern features include: State-of-the-art balloon design and safety teams Massive behind-the-scenes operations with thousands of volunteers Digital broadcasts and livestreams reaching millions worldwide Partnerships with musicians, Broadway shows, film studios, and children’s brands And, of course, the parade still ends the same way it did in 1924: with Santa Claus arriving to officially kick off the holiday season . Why the Parade Endures The Macy’s Thanksgiving Day Parade is more than a televised event—it's a symbol of joy, togetherness, and the unofficial start of the holidays. Over nearly 100 years, it has reflected the evolution of American culture, from beloved cartoon characters to blockbuster movie icons, all while staying anchored in nostalgic tradition. It’s a celebration of imagination, community, and holiday spirit—one balloon at a time.
November 12, 2025
If you’re heading out of town for the holidays, take a few minutes to prep your home before you go. A little planning can help you avoid headaches—and make sure you return to everything just as you left it! Unplug and Power Down Unplug small appliances like toasters, coffee makers, and space heaters. This not only helps prevent potential fire hazards but also saves a bit on energy while you’re away. Lock It Up Double-check that all doors and windows are securely locked, including sliding glass doors and garage entries. If you have a security system, set it before you go. Keep It Lived-In Consider leaving a light on a timer so your home still looks occupied in the evenings. It’s a simple way to deter unwanted attention. Clear the Kitchen Take out the trash, clean out the fridge, and run the garbage disposal before you leave. You’ll thank yourself when you come home to a fresh, clean space instead of any lingering odors. Close Curtains (But Not Completely) Clos ing your blinds or curtains halfway helps keep your home cooler and adds privacy— without making it obvious that no one’s there. Bonus Tip If you’re in an area prone to bugs, you can close sink and shower drains to minimize access (yes, it really can help keep pests from creeping up). Taking these simple steps helps protect your home and gives you peace of mind while you’re enjoying your holiday travels. Safe travels and happy holidays!
November 5, 2025
Whether you’re planning a romantic night out or a fun hangout with friends, fall and winter in Las Vegas bring the perfect mix of cool weather, and cozy vibes. From outdoor adventures to stay-in nights, here are some great ways to make the most of the season. 1. Skate Under the Stars at Fontainebleau’s Ice Rink Bundle up and glide across the ice surrounded by glittering lights and holiday cheer. Whether you’re holding hands or racing your bestie, it’s a festive way to kick off the winter season. 2. Explore Enchant at Las Vegas Ballpark Get lost in a maze of sparkling lights, sip on hot cocoa, and take a million photos together. Enchant is pure holiday magic — perfect for a romantic night or a friends’ night out filled with laughter and selfies. 3. Sunset Picnic at Red Rock Canyon Take advantage of the cooler weather and head out to Red Rock for a cozy outdoor date. Pack a picnic, bring a blanket, and catch the golden-hour glow over the desert cliffs. It’s peaceful, picturesque, and a great way to unwind together. 4. Rooftop Lounge Vibes Head to the Skyfall Lounge for sweeping views of the city lights. Grab a seat by the firepit, share a few laughs (or a cocktail flight), and soak in the stunning skyline. It’s equally perfect for date night or a friends’ catch-up. 5. Stay In & Solve an “Unsolved Case File” If you’re in the mood to stay cozy, pick up an Unsolved Case File game and put your detective skills to the test. Light some candles, order takeout, and enjoy a night of mystery, teamwork, and laughs — no going out required. From twinkling lights to cozy nights in, Las Vegas offers so many ways to make memories this season — whether it’s with your favorite person or your favorite people.
October 7, 2025
Las Vegas might be known for its bright lights and endless buffets, but there’s another side to the city—one filled with fresh produce, artisan goods, and local charm. Whether you’re a foodie, a weekend wanderer, or just someone who loves supporting small businesses, the farmers markets around town are worth adding to your weekend plans.
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When people think of food diversity in America, their minds usually go straight to New York City. But according to a recent study highlighted by the esteemed culinary school, Escoffier, the Big Apple doesn’t take the top spot. Instead, San Francisco claimed first place — praised for its bustling variety of cuisines and holding the title for the highest density of restaurants per capita among major U.S. cities.
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In business, one truth always stands out: no one succeeds alone. Whether you’re running a small business or managing a large organization, your success is built on the connections you make. And one of the simplest yet most impactful ways to strengthen those relationships is through gratitude.
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Planning a trip to Las Vegas? Whether it’s your first visit or your tenth, it’s easy to get overwhelmed by all the options. As locals, we know how to balance the must-see attractions with spots that many visitors miss. This four-day itinerary blends the energy of the Strip with the character of the neighborhoods beyond it, giving you a true taste of what Vegas has to offer.
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Ah, Las Vegas. The land of neon lights, endless buffets, and Elvis impersonators. You’ve just arrived, ready to strut down the Strip like a movie star. “We’ll just walk everywhere!” you say confidently.