What Impact May Rate Cuts Have?

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.

Las Vegas Ranked #9 for Diverse Food Scenes in the U.S.

September 8, 2025
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. What’s even more exciting for us locals? Las Vegas earned the #9 spot on the list of the most diverse food cities in the country. Why Vegas Stands Out Las Vegas may be known worldwide for its neon lights and entertainment, but the dining scene is what keeps both tourists and residents hungry for more. From celebrity chef–driven restaurants on the Strip to hidden neighborhood gems serving authentic global flavors, Vegas has transformed into a true culinary destination. While seven of the top 10 cities named in the study were coastal (a trend Escoffier notes is tied to cultural diversity and a robust restaurant scene), Las Vegas proves that you don’t have to sit on the coast to experience world-class variety. Our city thrives on international influence — with dining options that range from Korean barbecue and Italian trattorias to Thai street food, upscale steakhouses, and plant-based fine dining. A Foodie Destination on the Rise Being ranked in the top 10 isn’t just a nod to the Strip’s luxury restaurants, but also to the everyday spots that locals love. With new eateries opening regularly, the Vegas dining scene continues to evolve and surprise. So, whether you’re a longtime resident or just visiting, Las Vegas offers something for every craving — proving once again that this city is more than just an entertainment capital. It’s a place where cultures, flavors, and creativity come together to make the dining experience as dynamic as the city itself.

The Power of Gratitude in Building Strong Business Relationships

September 3, 2025
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. At McKenna Property Management, we’ve made gratitude a core part of our culture from the very beginning. Our owner and broker, Jenni McKenna, personally hand-delivers gifts to some of our VIP agents every single month . While it may sound like a small gesture, it makes a big difference. These thoughtful touches show our VIP Agents how much we value their trust in us, collaboration, and hard work. But it’s not just about the gifts. Gratitude comes in many forms—thank-you cards, handwritten notes, or even a quick phone call to say “we appreciate you.” What matters most is the consistency and authenticity behind the gesture. Over the years, these small acts of appreciation have helped us build trust, loyalty, and long-lasting relationships that go beyond a simple business transaction. By showing genuine appreciation, we’ve created strong bonds with clients and agents alike, and those connections have allowed McKenna Property Management to grow into what it is today. If you’re a business owner or professional, here’s our tip: make gratitude part of your business strategy. It doesn’t have to be extravagant—even the simplest “thank you” can strengthen relationships and open the door to new opportunities. At the end of the day, business isn’t just about numbers—it’s about people. And people remember how you make them feel. 💙

4 Days in Las Vegas – A Local’s Guide to the Perfect Trip

August 19, 2025
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. Day 1 – The Main Event: Everything Happening on the Strip Morning: Start with brunch at Alexxa’s in Paris Las Vegas , where the drinks come in disco balls and the atmosphere is upscale, modern, and trendy. Every Saturday and Sunday, a live DJ keeps the vibe upbeat while you enjoy brunch from 7:00 AM to 2:45 PM . Afternoon: Stroll through the Bellagio Conservatory & Botanical Gardens , an ever-changing floral masterpiece perfect for photos (and a break from the casino floor). Each season the gardens transform into a different showcase of sights, sounds, scents and colors. The conservatory team changes out the design, and replant and repurpose as much of the living plant material as possible. Evening: Dinner at Din Tai Fung inside ARIA. If you’ve never tried their famous dumplings, you’re in for a treat — and yes, the chocolate xiao long bao is as good as it sounds. Night: Dance the night away at Omnia Nightclub in Caesars Palace, or if clubbing isn’t your thing, see one of the incredible Cirque du Soleil shows on the Strip! Some of our team members recommended KÀ, or Mystère. Although Absinthe is not a Cirque du Soleil production, it is another great recommendation! This one is unapologetically raunchy and hilarious- and it is for ages 18+. More show recommendations can be found at the end of this blog! Day 2 – The Arts District Morning: Grab brunch at Makers & Finders , a lively Latin café with killer coffee and a creative menu. Afternoon: Spend time exploring the Arts District’s unique shops like Alt Rebel , Spilled Milk , and Antique Alley Mall . If shopping isn’t your scene, dive into something spooky different with Zak Bagans’ Haunted Museum . And if you’re not into scary, check out the end of this blog for more exhibits/museums in Las Vegas! Evening: Dinner at Esther’s Kitchen , where fresh, handmade pasta and sourdough steal the show. Night: Head to Atomic Golf where you can explore four floors of immersive golf games, bars, food and private event spaces! Day 3 – Immersive Fun At Area 15 Morning: Start with breakfast at The Peppermill , a retro Vegas staple known for its huge portions and vintage diner vibe. Afternoon: Spend the day at AREA15 , where you can wander through the mind-bending Omega Mart , explore the Illuminarium , check out Wink World , and so much more. Evening: Dinner at Block 16 Urban Food Hall in The Cosmopolitan — a foodie paradise with everything from Momofuku to Ghost Donkey . Nightcap: End your evening with a glamorous cocktail or mocktail at The Chandelier Bar inside The Cosmopolitan. Day 4 – Vegas Local + Tourist Combo Morning: Breakfast at The Broken Yolk Café . A favorite amongst Vegas Locals with multiple locations throughout the valley! They serve up an amazing breakfast with unique drinks. Afternoon: Choose between hiking the Historic Railroad Trail (Lake Mead views!) or exploring the stunning Red Rock Canyon . You can hike Red Rock, or drive through and enjoy the scenery. Evening: Step into old-school Vegas with dinner at Capo’s Restaurant & Speakeasy . Night: Ride the High Roller observation wheel for breathtaking views, then grab a frosty cocktail at Minus5 Ice Bar to cap off your trip. Local Pro Tips Do not swim in the Beach Club pools — just trust us on this one. Avoid ATM fees in casinos by bringing cash ahead of time. Characters on the Strip aren’t free — they’ll ask for tips after photos. Don’t limit yourself to the Strip — Vegas has amazing off-Strip attractions. Escape rooms here are great! Try Escapology at Town Square or PanIQ Room at The Venetian. Bring comfortable walking shoes — distances on the Strip are deceiving. October is the best month for weather. Additional Show Recommendations: A Vegas Golden Knights Game A Raider’s Game ANYTHING at the Sphere (Postcards from Earth, The Backstreet Boys, Eagles, etc.) The Atomic Saloon Show inside the Venetian RuPaul’s Drag Race LIVE! At The Flamingo Las Vegas Exhibits/Museums to check out: The Bodies Exhibit The Titanic Exhibit The Neon Museum Madame Tussauds Mob Museum This 4-day plan mixes the best of the Strip with local treasures, so you’ll leave Vegas feeling like you’ve truly experienced it — not just skimmed the surface.