We are being assured that the Federal Reserve is planning to implement the first interest rate cut in quite a while this week. So does that mean that the crisis has passed? Is this the “soft landing” that the Biden administration kept promising us over the past several years after Biden’s policies drove rates skyward as soon as Donald Trump left office? According to many bank executives interviewed by the Wall Street Journal last week, you might want to hold off on smashing open that piggy bank for a while longer. They are observing worrisome signs that everyday Americans are still struggling to pay their bills on a month-to-month basis, and that is never a sign of a healthy economic recovery. But why would the Fed consider a rate cut if the conditions on the ground don’t appear to merit it? Could politics be involved?
Read more…
Falling Behind on Your Bills? You're Not Alone
