3 Financial Moves to Make Before the Fed Lowers Interest Rates
Friday, 8 March 2024, 09:30
3 Financial Moves to Make Before the Fed Lowers Interest Rates
Interest rate cuts may not be so far off. Read on for some key moves to make before that happens. Image source: Getty Images
Cooling inflation sets the stage for rate cuts
The Federal Reserve is likely to cut interest rates after a series of hikes began in 2022 and lasted well into 2023. Although not expected in the upcoming March meeting, future cuts are on the horizon by the latter part of 2024.
- Lock in a long-term CD: Consider securing a CD now to benefit from higher rates before they potentially decline in the future.
- Open a high-yield savings account: Take advantage of better rates offered by online banks compared to traditional brick-and-mortar accounts.
- Boost your credit score: Prepare for potential loan opportunities by improving your creditworthiness before interest rates drop.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.