Latest / The Clark Howard Podcast
9.18.19 Fed rate cut impact; Twisted tax law hurts military heroes; Medical bill shock
The Federal Reserve lowers interest rates again to reduce the severity of economic slowdown and to help prevent a recession. The Fed is acting defensively. This will lower interest rates for car buyers and on credit cards. HELOCS historically follow, but many banks put a floor in recent contracts. Re-shop to get a lower rate if need be. Saver rates decline as well. Online bank savings rates have already dropped about 1/3 of 1 point. The smart move now is to lock in money you won’t need into a 1 year CD to earn more. Oddly, when the Reserve lowers their rates, mortgage rates often rise to…
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