The Fed just slashed rates. What do you need to know?

Brent I am so excited to talk about this

because everyone is asking us the question,

hey, I heard about rate cuts, rate cuts, rate cuts,

it's gonna happen, it's not gonna happen,

half a percent, a quarter of a percent,

what does this mean for the long term? I just love that we get to

sit here and speak into that, kind of at least educate you on what took place and then also

talk about okay well practically and realistically how does this impact your

financial life.

Yeah I think it's it's pretty exciting you guys the Fed started meeting 17th but they made the announcement

on the 18th it was I think

every mobile device I owned kind of blew up when that happened because I

started getting notifications from everybody and at the last minute I mean all predictions were they were cutting a half a percent but for some reason a few days before

The rumor was it was only going to be a quarter of a percent and then the market started having a little

volatility from that because let's face it the market has priced in this half a

percent and so when it came to be there was a big spike if you watch the intradays on the markets, but then it kind of came down a little bit, but we've leveled out and overall, I think you'll find that the market likes when we're in this rate cutting environment.

Bo, I want you to kind of walk through, why did they cut the Fed rate?

What is the responsibility or what are the goals of what the Federal Reserve is trying to do and how does

this actually impact everybody? Yeah when we're talking about rate cuts we're

talking about the Federal Open Market Committee sets its target for the Federal Funds

rate which is the rate in which lending institutions can borrow from one another.

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