3 Essential Financial Moves to Make Immediately After Federal Reserve Lowers Interest Rates
Sunday, 17 March 2024, 10:00
Key Financial Moves After the Fed's Interest Rate Cut
When inflation started surging, the Federal Reserve had no choice but to raise interest rates. But now that inflation isn't as rampant, the Fed is poised to start cutting rates later in 2024. Be prepared for these changes with the following financial strategies:
- Consolidate credit card debt: Roll high-interest credit card balances into a personal loan to enjoy lower borrowing costs and simpler payments.
- Sign essential loans: Finance critical expenses like home repairs or car purchases at lower interest rates.
- Manage maturing CDs: Monitor CD maturity dates and evaluate renewing options in a shifting interest rate environment to maximize returns.
Stay informed and make timely moves to optimize your financial well-being post rate cuts.
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.