Solutions For RealSolutions For Real
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

Scammers Are Stealing Billions From Elders — And They’re Getting Better At It

June 14, 2025

Surveillance Nation: Who Else Has a File on Your Finances?

June 14, 2025

These Six-Figure Jobs Value Competence, Not Credentials

June 14, 2025
Facebook Twitter Instagram
Trending
  • Scammers Are Stealing Billions From Elders — And They’re Getting Better At It
  • Surveillance Nation: Who Else Has a File on Your Finances?
  • These Six-Figure Jobs Value Competence, Not Credentials
  • Inspiring Quotes From Brian Wilson of The Beach Boys
  • Here’s Why You Should Be Wary Of 401(k) Crypto Options
  • I’ve Stockpiled 3 Years of Food and More. Here Is My Story.
  • 6 Tips for How to Follow up on a Job Application (With Examples)
  • How a 12-Year-Old’s Side Hustle Makes Nearly $50,000 a Month
Sunday, June 15
Facebook Twitter Instagram
Solutions For RealSolutions For Real
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
Solutions For RealSolutions For Real
Home » Fed Cuts Rates By 0.25%: EY Chief Economist Says More Coming
Investing

Fed Cuts Rates By 0.25%: EY Chief Economist Says More Coming

News RoomBy News RoomNovember 8, 20240 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

On Thursday, the Federal Reserve’s Federal Open Market Committee (FOMC) announced that it would lower the federal funds rate by 25 basis points (bps), or 0.25%, because of “somewhat elevated” inflation and an unemployment rate that “moved up but remains low.”

The rate is now 4.5% to 4.75%, down from 4.75% to 5%. A lower federal funds rate, or borrowing rate that banks charge each other, means lower borrowing costs on credit cards and personal loans — so there’s a ripple effect that could directly affect your wallet. Banks decide individually how to respond to rate cuts.

The news aligned with analyst expectations.

“We continue to expect the Fed to ease policy by 25bps at every meeting through June next year amid resilient but moderating growth and cooling labor market trends,” EY chief economist Gregory Daco told Entrepreneur in an emailed statement ahead of the Fed’s announcement.

The Fed previously cut rates by half a point in September, in its first reduction in four years. The next FOMC meeting, scheduled for December 17 through 18, is the last one of the year; Daco, as well as EY colleague and senior economist Lydia Boussour, both expect another rate cut of 25 bps then.

Federal Reserve Chair Jerome Powell. Photographer: Al Drago/Bloomberg via Getty Images

Daco wrote that after the Fed cut rates by an “outsized” 50 bps in September, it would opt for a more “gradual recalibration” in November because of “ongoing disinflation and softening labor market momentum along with strong productivity growth.”

Related: A Fed Rate Cut Finally Happened For the First Time in 4 Years. Here’s How the Decision Will Affect Your Wallet.

Elyse Ausenbaugh, Head of Investment Strategy at J.P. Morgan Wealth Management, also told Entrepreneur in September that the 50 bps cut in that month “creates some breathing room to go at a slower (or every-other-meeting) pace” for subsequent meetings.

The CME FedWatch Tool, a measure of the latest probabilities of FOMC rate changes, agreed with Daco and Ausenbaugh’s predictions of a slower rate cut pace. It placed the likelihood of a 25 bps cut in November at 99.1% before the decision was announced.

Related: ‘Stage Is Set:’ EY Senior Economist Expects Three Rate Cuts Before the End of the Year

Read the full article here

Featured
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Surveillance Nation: Who Else Has a File on Your Finances?

Burrow June 14, 2025

These Six-Figure Jobs Value Competence, Not Credentials

Make Money June 14, 2025

Inspiring Quotes From Brian Wilson of The Beach Boys

Make Money June 14, 2025

I’ve Stockpiled 3 Years of Food and More. Here Is My Story.

Burrow June 13, 2025

6 Tips for How to Follow up on a Job Application (With Examples)

Make Money June 13, 2025

How a 12-Year-Old’s Side Hustle Makes Nearly $50,000 a Month

Make Money June 13, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

Surveillance Nation: Who Else Has a File on Your Finances?

June 14, 20250 Views

These Six-Figure Jobs Value Competence, Not Credentials

June 14, 20250 Views

Inspiring Quotes From Brian Wilson of The Beach Boys

June 14, 20250 Views

Here’s Why You Should Be Wary Of 401(k) Crypto Options

June 13, 20250 Views
Don't Miss

I’ve Stockpiled 3 Years of Food and More. Here Is My Story.

By News RoomJune 13, 2025

Courtesy Photo / Money Talks NewsAdvertising Disclosure: When you buy something by clicking links within…

6 Tips for How to Follow up on a Job Application (With Examples)

June 13, 2025

How a 12-Year-Old’s Side Hustle Makes Nearly $50,000 a Month

June 13, 2025

What’s the Highest Paid Hourly Position at Walmart?

June 13, 2025
About Us
About Us

Your number 1 source for the latest finance, making money, saving money and budgeting. follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]

Our Picks

Scammers Are Stealing Billions From Elders — And They’re Getting Better At It

June 14, 2025

Surveillance Nation: Who Else Has a File on Your Finances?

June 14, 2025

These Six-Figure Jobs Value Competence, Not Credentials

June 14, 2025
Most Popular

A Deep Dive on the County Level

September 7, 20231 Views

Scammers Are Stealing Billions From Elders — And They’re Getting Better At It

June 14, 20250 Views

Surveillance Nation: Who Else Has a File on Your Finances?

June 14, 20250 Views
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 Solutions For Real. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.