Federal Reserve to announce decision that could impact auto, home loans

The video discusses the Federal Reserve's current stance on interest rates, with Fed Chair Jerome Powell expected to announce no immediate rate cut. Economists predict a potential rate cut in September if inflation aligns with targets. The Fed aims to balance inflation and unemployment. Consumers are advised to maximize savings in high-interest accounts. Future rate cuts may offer relief to borrowers, but interest rates for credit cards and mortgages will remain high. Experts suggest not waiting for better returns on CDs or savings accounts, but to monitor Fed decisions if considering new debt.

What might happen if the Fed cuts rates this fall?

How do experts suggest consumers should approach new debt in light of the Fed's decisions?