Confused About What A Fed Rate Cut Could Mean For You? | Jerome Powell & Interest Rates

Rich Girls' Guide

Hey Rich Girls, Kirby here - if you follow any news or happen to overhear finance bros talking about finance, you have probably heard of the term federal rate cuts. But do you have any idea what that means or how it could affect you? I’m going to explain it you in everyday language right now so that YOU can know what's going on - and maybe even break it out at your next happy hour.
**please note this is not investment advice, just my opinion & should be used for entertainment purposes only**
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TIMESTAMPS:
0:00 Intro
0:42 WTF is “the fed”
4:30 What is a rate cut or rate hike?
8:36 What does a rate cut mean for my bottom line?
10:30 What happened at the July fed meeting…
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ARTICLES MENTIONED:
Federal reserve: https://www.federalreserve.gov/aboutthefed/fedexplained/who-we-are.htm
History of the Fed: https://www.stlouisfed.org/in-plain-english/history-and-purpose-of-the-fed#:~:text=A%20particularly%20severe%20panic%20in,to%20address%20these%20banking%20panics.
July Fed Meeting: https://www.wsj.com/economy/central-banking/federal-reservice-interest-rate-decision-b5c39738?page=1
Jay’s July 2024 Congress Testimony: https://www.reuters.com/markets/us/feds-powell-before-congress-could-show-developing-case-rate-cut-2024-07-09/
Jobs report / unemployment: https://www.wsj.com/economy/jobs/jobs-report-july-unemployment-economy-8b7e6db7
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