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Zero Cool's avatar

Long overdue. This over time will be a positive for the economy both with consumers saving and spending depending on when they feel the time is right to spend more.

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michaelflutist's avatar

I had to read that twice to figure out what overtime you were talking about. Over time.

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TheDude415's avatar

Yeah, this is unambiguously good news.

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Zero Cool's avatar

Yes, over time. I split up the word in two to address what you're observing.

Anyway, I'm not sure the Fed rate cut will make the most impact this month as we have less than two weeks left. For October, November, December, etc. the labor market will certainly be impacted more.

And as more Fed rate cuts come later this year, as long as they're being done carefully, it will allow the economy to grow at a normal, healthy way.

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michaelflutist's avatar

It's good news to most people who hear about it , except for those who profit from higher rates.

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Zero Cool's avatar

Well, too bad for those who need the interest rates high.

The interest rate cuts are going to be a boon for retailers as well. I was shopping at Macy's a few days ago and a woman had a conversation with the retail cashier about her concerns about inflation. I believe she was at Macy's Backstage where the items are priced lower than other Macy's products and chose this section of the location as she was cost sensitive.

Even restaurants are going to see more business.

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Tigercourse's avatar

I don't think it was long overdue, unless you wanted to be reading stories about currently runaway inflation as we head into the election.

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Zero Cool's avatar

There was a big risk in raising the interest rates high the way they've been for some time. Psychologically and financially, literally everyone has been waiting for prices to go down.

For anyone who wants to save money, now they should start having an easier chance at doing so. Financial advisors at many companies are going to have an easier time helping their clients plan for their future and retirement.

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