How latest Fed rate will affect various types of loans, your bank accounts, credit cards, and your many other investments
US Federal Reserve was expected to keep its lending rate steady this time, there were chances that things could get tweaked, that could alter loan types, mortgages, credit card charges, and more. However, it now looks like, Americans may have caught a breather as the lending rates will remain unchanged for the time being, with no cuts or hikes made to it, as the US Federal Reserve has suddenly adapted to a 'wait and watch' approach to Donald Trump's economic policies.
Budget with ET
How Budget 2025 can walk the tightrope of India's 'sins'
Will Budget add more firepower to defence industry's local manufacturing?
Sitharaman and co to fuel India's luxe aspirations, premium growth?
Ever since Donald Trump became President, there were concerns about the future of lending rates, with older reports suggesting that Trump was trying to asset his concerns around the activities of the US Federal Reserve. However, it now look like things would remain unaltered for the time being.
How will the latest Fed rates affect loan types?
The US Federal Reserve issued a series of rate cuts last year keeping in mind the recession fears looming in the US. However, the US Fed has not issued any further rate cut this year as policymakers want to take a steady approach towards the economic policies of Trump, suggest reports. For starters, there has been an issue with the affordability of vehicles, even though automobile loan rates are trending lower. This could stand to be a major problem with vehicle prices elevating.
Credit Card and Mortgage
Read more on economictimes.indiatimes.com
