The Federal Reserve announced a half-point interest rate cut Wednesday, marking the first such move in four years. ABC-11 News turned to Poole College Economics Professor Steve Allen to get some insight into the potential implications of this decision.
“I think the Fed is certainly signaling a turning point that they have confidence that the fight against inflation has largely been won and at the same time, concern about weakness not just in the labor market, but if you look at the data on credit cards and late mortgage payments, that’s been inching up some as well,” Allen said.
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