BREAKING: Here’s what you need to know from the Fed meeting

[View in Browser]( [Bankrate]( FED WEEK September 2019 Today, the Fed decreased interest rates 0.25 percent The second rate cut this year. What is Fed Week? The Federal Reserve — also known as the Fed — maintains economic stability by determining how much it costs to borrow money. To prevent a recession, the Fed lowers interest rates to stimulate growth. It can also raise rates to keep the economy from overheating. Officials vote on these decisions typically eight times a year, during Federal Open Market Committee (FOMC) meetings. These actions impact yields on [CDs]( and [savings accounts](. They also influence the interest rate you pay on credit cards or auto loans, among other forms of credit. The breakdown The rate cut brought the Fed’s benchmark interest rate to a target range of 1.75 percent and 2 percent. It’s the second straight reduction, with the Fed also lowering borrowing costs at the conclusion of their July 31 meeting. Officials indicated in speeches leading up to the meeting that they would make the move. Policymakers are worried about trade wars, low inflation, weakness in manufacturing and a slowdown in global economic growth. They want to cushion the U.S. economy before any of these downside risks take hold. Though it’s smaller than the rate cuts enacted during the financial crisis, you can still expect to see an impact. Banks may choose to lower the yields on their [savings accounts]( or [CDs]( but borrowing costs will get cheaper — whether it’s on auto loans, or on variable-rate [home equity loans]( and [home equity lines of credit (HELOCs)](. Check out Bankrate’s articles on the latest decrease and what it means for your wallet. [The Federal Reserve cuts interest rates]( The Fed lowered borrowing costs by a quarter of a percentage point for the second straight meeting, a first since before the recession. [Read Full Story Â]( [How the Fed’s interest rate decisions affect mortgages]( The Fed doesn’t directly impact mortgage rates, but borrowers should still pay attention. [Read Full Story Â]( [ARM, HELOC mortgage borrowers in line for a break with Fed rate announcement]( If you have a home equity loan or variable mortgage, pay attention to the Fed. [Read Full Story Â]( [4 ways savers should handle falling interest rates]( Here’s how to respond to a Fed rate cut if you’re in the market for a CD or savings account. [Read Full Story Â]( [How Have Rates Changed? | FIND OUT AT BANKRATE]( [Bankrate]( Master life’s financial journey. [MORTGAGES]( [BANKING]( [CREDIT CARDS]( [LOANS]( [INVESTING]( [HOME EQUITY]( [CREDIT REPORT](  [fb](  [insta](  [linked](  [twitter](  © 2019 Bankrate LLC. All Rights Reserved. Bankrate LLC • 3801 PGA Boulevard • Suite 555 • Palm Beach Gardens, FL 33410 You received this update at {EMAIL} because you have a Bankrate account. You may unsubscribe from this email [here](. Manage your subscriptions [here](. View our [privacy policy](. Â