Money moves to consider before a possible rate cut

The video discusses the Federal Reserve's balancing act of managing unemployment and inflation. Analysts predict that a July interest rate cut is unlikely, but a cut may occur in September if inflation data is favorable. Consumers are advised to take advantage of current high interest rates by saving in high interest accounts or CDs. Attorney Leslie Tain suggests consumers weigh the benefits of immediate rate cuts against potential future cuts. While rate cuts may help borrowers, credit card and mortgage rates will remain high. Experts recommend monitoring the Fed's decisions for those considering new debt.

What should consumers consider when deciding to jump on lower rates or hold off for more cuts?

What does the text suggest about the future of interest rates for credit cards and mortgages?