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Israel’s recent attacks on Hezbollah expose weaknesses in Iran’s proxy strategy. Israel’s attacks on Hezbollah exposes weaknesses in Iran’s ‘axis of resistance’In a matter of weeks, Israel has dealt devastating blows to Iran’s most important proxy, Hezbollah. For Iran, Hezbollah was supposed to be the cornerstone of its strategy to outflank superior adversaries, such as Israel, with armed proxies. But Iran’s strategy, dubbed the “axis of resistance,” underestimated how Israel would respond to the Hamas terrorist attack of Oct. 7 and subsequent cross-border rocket fire from Hezbollah. Helene leaves a trail of destruction in the SoutheastThe devastation from Helene came into clearer view over the weekend, with residents in the Southeast reeling from the storm’s impact.

Persons: Helene, Derrick Henry, Hezbollah’s, Hassan Nasrallah, ”, “, Bruce Hoffman, —, they’ve, Nelson Mandela, Marwan Barghouti, Sheriff Quentin Miller, Ron DeSantis, Donald Trump, Stephanie Scarbrough, eason, alf Organizations: Baltimore Ravens, NFL, Israel, U.S, Sheriff, Tennessee Bureau of Investigation, Gov, NBC, NFL Baltimore, Ravens, Buffalo Bills, ’, Kansas City Chiefs, Minnesota Vikings, Seattle Seahawks, Kansas City, Seattle, Detroit Lions Locations: Florida, North Carolina, Israel, Iran, Gaza, Iraq, Syria, Yemen, Tehran, Buncombe County, Asheville, Tennessee, Valdosta , Georgia, Los Angeles . Minnesota, Green

Iran vows revenge over Nasrallah's deathIsraeli forces killed Hassan Nasrallah, the leader of the militant and political group Hezbollah, in a large-scale attack in Beirut on Friday. Ukrainian President Volodymyr Zelenskyy visited the U.S. last week for meetings with Trump, President Joe Biden and Vice President Kamala Harris. The ride-or-die fans of historically bad White SoxSights, scenes and snacks at the Los Angeles Angels-vs.-Chicago White Sox game at Guaranteed Rate Field in Chicago on Tuesday. Akilah Townsend for NBC NewsWith Friday's loss, the Chicago White Sox broke the record for the most losses in a Major League Baseball season. Leading up to the historic 121st loss, NBC News spoke with loyal White Sox fans whose support has not wavered despite the team's bad season.

Persons: Hassan Nasrallah, Vahid, Benjamin Netanyahu, Nasrallah, Abbas Nilforoushan, Abbas Aragchi, Israel, Yemen’s Ras Issa, Helene, Hurricane Helene, Joe Biden, Roy Cooper, Sheriff Quentin Miller, Kamala Harris, Donald Trump, Harris, Joe Biden’s, Press Sen, Marco Rubio, Biden, Trump, ” Rubio, Kristen Welker, Volodymyr Zelenskyy, Eric Adams, Sarah McBride, Akilah Townsend, I'm, Lance Norton, Mori, Tom Carpenter, ”, Rashee Rice, Ashley Landis Organizations: Hezbollah, Israeli, Islamic Revolutionary Guard Corps, Iranian, U.S ., Israel Defense Forces, NBC, Sheriff, Tennessee Bureau of Investigation, ’, NBC News, Telemundo, CNBC, Democratic, NBC News ’, Party, Press, U.S, Trump, New York, Republicans, Sox, Los Angeles Angels, Chicago White Sox, Major League Baseball, 121st, White Sox, American Pet Products Association Locations: Beirut, Iran, Lebanon, U.S, Hurricane, Florida, North Carolina, Buncombe County, Tennessee, Austria, Russia, Ukraine, Chicago

Learn moreThe Walking Dead: Daryl Dixon returns for a second season with The Book of Carol. We've put together everything you need to know about how to watch The Walking Dead: Daryl Dixon from anywhere, including a free streaming option. How to watch The Walking Dead: Daryl Dixon in the USThe Walking Dead: Daryl Dixon's second season, The Book of Carol, airs Sunday nights at 9 p.m. How to watch The Walking Dead: Daryl Dixon in AustraliaNew Book of Carol episodes of The Walking Dead: Daryl Dixon will be available to stream through Stan in Australia at the same that they air in the US. How to watch The Walking Dead: Daryl Dixon in New ZealandThe Walking Dead: Daryl Dixon is available to stream for free on TVNZ in New Zealand.

Persons: Daryl Dixon, Carol, We've, Norman Reedus, he's, Carol Peletier, Melissa McBride, Carol —, Daryl, we'll, Daryl Dixon's, Philo, Stan, we've, ExpressVPN Organizations: Business, AMC, Sling, TVNZ, US Locations: France, Australia, New Zealand, Stan

Lisa Goodman, the founding president of Equality Delaware, a statewide LGBTQ organization, worked at the same law firm as McBride’s father. “I said, ‘This changes everything,’” Goodman recalled, regarding McBride’s ability to help lobby for state legislation that would help trans people. “I also said, ‘Sarah is going to do more as Sarah than you ever imagined.’”Both statements proved true. The best example of that, they said, was her work to pass paid family leave in Delaware. McBride was elected to the state Senate in November 2020, making her the country’s first openly trans state senator.

Persons: Lisa Goodman, McBride, Dave, Sally, Goodman, “, ’ ” Goodman, ‘ Sarah, Obama, ’ McBride, Andrew Cray, Cray, ”, ” McBride, I’ve, ” Andrew Cray messaged McBride, ” Jana Williams, NBC News McBride, Ted Lasso Organizations: Equality, Center for American Progress, Human Rights, Democratic National Convention, Facebook, NBC News, White, Delaware Families Locations: Equality Delaware, Delaware

☆ A’ja Wilson sets single-season rebound record, New York Liberty and Minnesota Lynx clinch top seeds
▼ + stars: | 2024-09-18 | by ( Jamie Barton | ) edition.cnn.com time to read: +3 min

CNN —Las Vegas Aces superstar A’ja Wilson broke the WNBA single-season rebound record on Tuesday, picking up seven boards in an 85-72 win over the Seattle Storm. Despite making history once again on Tuesday night, Wilson was relatively indifferent to the record. Liberty and Lynx lock top two seedsMinnesota Lynx guard Kayla McBride shoots a layup against the Connecticut Sun. The Lynx are the hottest team in the league, having won seven in a row and going 13-1 since the Olympic break. Tuesday night’s WNBA scoresAway @ home (winners in bold)Minnesota Lynx 78-76 Connecticut SunNew York Liberty 87-71 Washington MysticsChicago Sky 70-86 Atlanta DreamLas Vegas Aces 85-72 Seattle StormPhoenix Mercury 85-81 Los Angeles Sparks

Persons: A’ja Wilson, Angel Reese, Wilson, I’m, “, Becky Hammon, ”, Kayla McBride, Erica Denhoff, Bridget Carleton, Napheesa Collier, Carleton, –, Alyssa Thomas ’, Betnijah Laney, Hamilton, Ariel Atkins, Scott Taetsch, Breanna Stewart Organizations: CNN, Las Vegas Aces, WNBA, Seattle Storm, Chicago Sky, Aces, Las Vegas, Sky, Connecticut Sun, Dallas Wings, ” Aces, Houston Comets, Liberty, Lynx, Minnesota Lynx, New York Liberty, Eastern Conference, Washington Mystics, New York, Mystics, Connecticut Sun New York Liberty, Washington Mystics Chicago Sky, Seattle Storm Phoenix Mercury, Angeles Sparks Locations: New

☆ The Federal Reserve just cut interest rates by a half point. Here's what that means for your wallet
▼ + stars: | 2024-09-18 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

"Interest rates took the elevator going up, but they'll be taking the stairs coming down," he said. That makes paying down high-cost credit card debt a top priority since "interest rates won't fall fast enough to bail you out of a tight situation," McBride said. "Many Americans have been holding off on making vehicle purchases in the hopes that prices and interest rates would come down, or that incentives would make a return," Caldwell said. Student loansFederal student loan rates are also fixed, so most borrowers won't be immediately affected by a rate cut. Eventually, borrowers with existing variable-rate private student loans may be able to refinance into a less expensive fixed-rate loan, he said.

Persons: Spencer Platt, APRs, McBride, they'll, Jacob Channel, Jessica Caldwell, Edmunds, Caldwell, Mark Kantrowitz Organizations: Getty, Treasury, Auto, Fed Locations: New York City, Edmunds

☆ The Fed’s rate cuts could have unintended consequences for the housing market
▼ + stars: | 2024-09-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The market had become all but impenetrable after mortgage rates went from historic lows in 2020 to their highest levels in a generation last year. “And I think if we even go down to 5.9%, that would be really psychologically impactful to the housing market. The current 6.2% mortgage rate average is, of course, preferable to last year’s peak of 7.8% — a difference that could translate to hundreds of dollars in monthly payments. As my colleague Samantha Delouya wrote this week, a drop in mortgage rates could be a double-edged sword. “A further drop in mortgage rates could bring a surge of demand that makes it tougher to actually buy a house.”

Persons: ” Daniel Alpert, Alpert, “, ” Daryl Fairweather, Samantha Delouya, ”, Greg McBride Organizations: New, New York CNN, Federal Reserve, Westwood Capital, Fed, Bankrate Locations: New York

☆ How to make the Fed rate cut work for you
▼ + stars: | 2024-09-18 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +11 min

In its August survey of car shoppers, a majority (64%) said a Fed rate cut likely would affect the timing of their purchase. But here’s the thing: Car loan rates are pretty high — the average is 7.1% for new cars and 11.3% for used cars, according to Edmunds. If you do buy a home this year and are considering buying down points to reduce your mortgage rate, crunch some numbers first, Diodato advised. That’s because you will pay thousands of dollars to buy down your mortgage rate now, and then thousands more in fees to refinance. What to do if you’re not near retirement: Reconsider how much money you’re keeping in cash or cash-equivalent investments.

Persons: Jerome Powell, Powell, “, ”, Greg McBride, McBride, Chris Diodato, Jessica Caldwell, ” McBride, Caldwell, We’re, Diodato, you’ll, won’t, Kathy Jones, Jones Organizations: CNN, Federal Reserve, Bankrate.com, Fed, Treasury, FDIC, Schwab Center, Financial Research, AAA, Bond Locations: Edmunds, Schwab.com

But a series of data points showing worsening economic conditions has made some analysts believe a 0.5% cut is more likely — and perhaps even necessary. “We do not seek or welcome further cooling in labor market conditions,” Fed Chair Jay Powell said in a speech last month. “A (0.5%) cut is usually done in emergencies,” like the Covid-19 pandemic, said Mark Zandi, chief economist at Moody’s financial group. Mortgage interest rates have hit their lowest level since February 2023, while auto loan rates are also falling. A 0.5% cut would more directly affect rates tied to the fed funds rate, including credit cards, home equity lines of credit and small-business loans.

Persons: Steve Liesman, Jay Powell, Bill Dudley, ” Dudley, Preston Mui, Mui, ”, “, Mark Zandi, Greg McBride, ” McBride Organizations: Federal, CNBC, Wall, Minneapolis Federal Reserve, Federal Reserve Bank of New, Bloomberg News, Fed, Bankrate Locations: Minneapolis, Federal Reserve Bank of New York, America

President Joe Biden’s administration is widely considered to be the most pro-LGBTQ in history, and as he enters his final months in the White House, Biden sat for an historic interview with one of the country’s oldest LGBTQ news outlets. In a wide-ranging interview published Monday in the Washington Blade, a D.C.-based LGBTQ newspaper founded more than half a century ago, Biden reiterated his commitment to the community while also speaking broadly about former President Donald Trump’s policies regarding the LGBTQ community and sharing his views on Project 2025. The interview is the first time a sitting president has spoken exclusively with an LGBTQ newspaper, according to the Blade. They noted that Biden has also appointed more LGBTQ officials to his administration than in any other administration in American history. Despite such advances for the community, Biden also spoke about the challenges all Americans face.

Persons: Joe Biden’s, Biden, Donald Trump’s, ” Biden, don’t, ”, I’ve, Sarah McBride, “ We’re, ” Trump, “ Trump Organizations: Washington, Stonewall, Republican, NBC Locations: America, Delaware

☆ Here’s what you should know about buying a home ahead of a likely interest rate cut
▼ + stars: | 2024-09-16 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

While the Fed doesn’t directly set mortgage rates, its actions affect borrowing costs throughout the economy. The most apparent effect: An interest rate cut could help ease the upward pressure on mortgage rates, making one piece of the homebuying equation more affordable. Most investors are betting that the Fed will cut its benchmark interest rate by just a quarter-point on Wednesday. Some financial advisers counsel to wait until you can get a mortgage rate that is a full percentage point below the rate you’re already paying, said Fairweather. “If you got a 7.5% mortgage rate, you may already be in the money to refinance,” she said.

Persons: Freddie Mac, ”, Daryl Fairweather, Redfin’s, “, it’s, Fairweather, We’re, Greg McBride, “ It’s, Leo Pareja Organizations: CNN, Federal Reserve, homebuyers, National Association of Realtors, Bankrate, eXp Realty Locations: Wells, ”

☆ Why people are souring on one of the country's hottest housing markets
▼ + stars: | 2024-09-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +8 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe exodus is mainly being driven by higher housing costs, a higher cost of living, and souring attitudes toward the influx of people who moved to Florida in recent years. Property insurance costs in the state are rising at the fastest pace in 20 years, according to Capital Economics. According to Cindy, her home insurance costs around $8,000 a year. The cost of living has also risen, in part due to rising housing costs and more people living in the city.

Persons: —, who's, Cindy, isn't, Rafael Corrales, Corrales, Kevin, hadn't, it's, Bill McBride, McBride, That's, It's, Darryl Fairweather, Redfin, Fairweather Organizations: Service, Business, Tampa —, Capital Economics, Bureau of Labor Statistics, Washington DC, Florida Department of Law, Sunshine State Locations: Florida, Sunshine, Tampa, Orlando, Jacksonville, South Florida, Miami, St, Pete, Seattle, New York, Fort Lauderdale, Palm Beach, Petersburg, Clearwater, Florida's

☆ Don't expect 'immediate relief' from the Federal Reserve's first rate cut in years, economist says. Here's why
▼ + stars: | 2024-09-13 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

The federal funds rate, which the U.S. central bank sets, is the rate at which banks borrow and lend to one another overnight. Home loan rates have already started to fall, largely due to the prospect of a Fed-induced economic slowdown. Student loansFederal student loan rates are also fixed, so most borrowers won't be immediately affected by a rate cut. Eventually, borrowers with existing variable-rate private student loans may also be able to refinance into a less expensive fixed-rate loan, according to higher education expert Mark Kantrowitz. However, refinancing a federal loan into a private student loan will forgo the safety nets that come with federal loans, he said, "such as deferments, forbearances, income-driven repayment and loan forgiveness and discharge options."

Persons: that's, McBride, Jacob Channel, it's, Matt Schulz, Bankrate's McBride, Mark Kantrowitz Organizations: Treasury, Mortgage, Association, Auto, Consumers Locations: U.S

— Delaware state Sen. Sarah McBride won the Democratic primary for the state's lone U.S. House seat on Tuesday, The Associated Press projected, putting her one step closer to becoming the first transgender member of Congress. She will be the favorite to win the general election to replace Rep. Lisa Blunt Rochester, who is running for U.S. Senate, in heavily Democratic Delaware this November. "Nobody is more qualified than Sarah to represent the values of Delaware in Congress. Sarah McBride was elected in 2020 to represent Delaware’s 1st Senate District. In 2016, McBride became the first trans person to speak at a major political convention when she gave a speech at the Democratic National Convention.

Persons: Sen, Sarah McBride, McBride, Earl Cooper, Elias Weir, Lisa Blunt Rochester, McBride’s, Annise Parker, Sarah, ” McBride, Tom Williams, Obama, Jack Markell, “, ” Organizations: Democratic, Associated Press, U.S . Senate, “ Voters, District, Getty, D.C, Trans Equality, Assembly, Democratic National Convention Locations: Del, — Delaware, Democratic Delaware, Delaware, Congress, Washington, Delaware’s, Claymont, Bellefonte, Edgemoor, Wilmington

☆ Delaware At-Large Congressional District Primary Election Results
▼ + stars: | 2024-09-10 | by ( ) www.nytimes.com time to read: 1 min

State Senator Sarah McBride faces nominal opposition in the Democratic primary for Delaware’s at-large U.S. House seat — a bid that, if successful in November, would make her the first openly transgender member of the U.S. Congress.

Persons: Sarah McBride Organizations: Democratic, Delaware’s, U.S . Congress

☆ Delaware Primary Election Results
▼ + stars: | 2024-09-10 | by ( ) www.nytimes.com time to read: 1 min

U.S. House At-Large DistrictState Senator Sarah McBride faces nominal opposition in the Democratic primary for Delaware’s at-large U.S. House seat — a bid that, if successful in November, would make her the first openly transgender member of the U.S. Congress.

Persons: Sarah McBride Organizations: House, Democratic, Delaware’s, U.S . Congress

☆ Some young adults are opting out of parenthood. Money is a major reason, most say
▼ + stars: | 2024-09-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

watch nowYoung adults face financial obstaclesOver decades, attitudes about marriage and parenthood have changed. More recently, experts say, the overall cost of living has become a contributing factor in decisions to forgo parenthood. Between 1991 and 2024, the costs for child care rose at nearly twice the pace of overall inflation. But parenthood and related child care costs are not just personal financial issues, he added. "The cost of child care is really an economic growth and productivity issue as well," House said — and that affects all Americans, not just those with young kids.

Persons: Greg McBride, Gen Zers, Pew, Brett House, —, Brett Organizations: Pew Research Center, KPMG, Columbia Business School, Columbia Business Locations: U.S, millennials

☆ Harris and Trump battle to be the 'change' candidate: From the Politics Desk
▼ + stars: | 2024-09-09 | by ( The Politics Desk | ) www.nbcnews.com time to read: +7 min

In today’s edition, senior political editor Mark Murray looks at how Kamala Harris and Donald Trump are trying to position themselves as the candidate of change. Poll shows Trump winning the 'change' argument — for nowBy Mark MurrayIt’s not too surprising that the latest national New York Times/Siena College poll finds a razor-close contest between Donald Trump and Kamala Harris. In the NYT/Siena poll, 25% of likely voters said Harris represents major change and 15% said she represents minor change, while 55% said she represents more of the same. That’s compared with 53% of voters who see Trump as representing major change, 8% as minor change, and 34% as more the same. Breaking barriers in Delaware: State Sen. Sarah McBride is expected to take another step toward becoming the first transgender person elected to Congress.

Persons: Mark Murray, Kamala Harris, Donald Trump, Mark Murray It’s, It’s, Trump, Harris, Chuck Todd, “, Harris ’, Joe Biden’s, —, ” Harris, Biden, ” Trump, ” We’re, it’s Trump, Adam Wollner, Alexandra Marquez, Adam Edelman Tomorrow’s, Sen, Kelly Ayotte, Chris Sununu, Chuck Morse, Ayotte, Joyce Craig, Cinde Warmington, Amy Walter, Maggie Goodlander, Colin Van Ostern, Annie Kuster, who’s, Goodlander, Jake Sullivan, Hillary Clinton, Van Ostern, John Lynch, State Sen, Sarah McBride, McBride, Lisa Blunt Rochester, Tom Carper, Blunt Rochester, she’s, Maryland’s Angela Alsobrooks, hat’s Organizations: NBC, White House, Capitol, Trump, New York Times, Siena, it’s Trump who’s, Rhode, Republican, Democrats, Manchester, Democratic, Biden White House, Justice Department, Council, Rep, Delaware’s, Democratic National Convention, Delaware Democrat, Senate Locations: Siena, New Hampshire , Delaware, North Carolina, state’s, New Hampshire, Granite, Kuster, Delaware, State, Congress

☆ 40% of workers are behind on retirement planning. Not saving earlier was the biggest mistake
▼ + stars: | 2024-09-04 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

Thomas BarwickMolly Richardson, 35, regularly contributes to her 401(k) plan, but the structural engineer said she isn't too worried about retirement yet. "There are so many individuals, young, mid-career and deep into their career, that are not saving enough for a healthy and secure retirement," said Jacqueline Reeves, the director of retirement plan services at Bryn Mawr Capital Management. The retirement savings shortfallOther reports show that a retirement savings shortfall is weighing heavily on Americans as they approach retirement age. LiveCareer's retirement fears survey found that 82% of workers have considered delaying their retirement due to financial reasons, while 92% fear they may need to work longer than originally planned. More than any other money misstep, not saving for retirement early enough is the biggest financial regret for 22% of Americans, according to another report by Bankrate.

Persons: Thomas Barwick Molly Richardson, isn't, Richardson, Gen Xers, Zers, Jacqueline Reeves, Reeves, Lisa Cutter, Cutter, they're, Catherine Collinson, you'll, Bryn Mawr's Reeves, Greg McBride Organizations: CNBC, Bryn Mawr Capital Management, Fidelity Investments, Pew Charitable, American, Transamerica Center, Retirement Studies, Transamerica Institute, Bankrate Locations: Jacksonville , Florida, U.S, Bryn Mawr, Terre Haute , Indiana

At the 2016 Democratic National Convention in Philadelphia, Rep. Patrick Maloney, D-N.Y., was met with thunderous applause as he proudly introduced transgender advocate Sarah McBride. “She is right now the first trans person ever to address a national convention,” Maloney boasted. But at this year’s Democratic convention in Chicago, trans people were notably absent from the stage. To some trans Americans, the omission did not go unnoticed. Harris, who has actively supported gay rights throughout her career, is also seen by advocates as having one of the most, if not the most, LGBTQ-friendly policy record of any presidential candidate.

Persons: Patrick Maloney, Sarah McBride, ” Maloney, ” McBride, she’s, Danica Roem —, —, Sen, Cory Booker, Kelley Robinson, Charlotte Clymer, ”, Harris, Gov . Walz, ” Clymer, Melissa Michelson, Oprah Winfrey, it’s, “, Tim Walz, Kamala Harris nodded, Pete Buttigieg, Laphonza Butler, Erin Reed, there’s, Donald Trump, Rodrigo Heng, Lehtinen, Kamala Harris, ” Heng Organizations: Convention, Democratic, DNC, Republican National Convention, NBC, U.S, Gov, Republican Party, California’s Menlo College, Gallup, Straight Alliance, Victory, NBC News, Democratic Party, GOP, Trans Locations: Philadelphia, Delaware, Virginia, Chicago, Milwaukee, Tennessee, Minnesota, D

Federal Reserve Chair Jay Powell said Friday he expects the central bank will cut its key interest rate in the near future in response to slower economic growth and cooling inflation. "The labor market is no longer overheated, and conditions are now less tight than those that prevailed before the pandemic. Starting in the spring of 2022, the Fed raised interest rates to a level not seen in nearly two decades as it worked to combat soaring inflation. "Make no mistake, if the labor market shows signs of further cooling, the Fed will cut with conviction," Shah wrote. Lower interest rates will provide some relief to consumer borrowers, but it will not be immediate, according to Greg McBride, chief financial analyst at Bankrate.com.

Persons: Jay Powell, Powell, ” Powell, “, Seema Shah, —, Shah, Greg McBride, McBride Organizations: ”, Dow Jones, Nasdaq, midmorning, Market Committee, Management Locations: Jackson Hole , Wyoming, U.S

☆ Home equity is 'not like bread,' expert says — 'It won't go stale.' Here's when it makes sense to tap it
▼ + stars: | 2024-08-13 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Using home equity is "certainly a less expensive borrowing option than resorting to personal loans or credit cards," McBride said. As of August 7, the current average home equity loan interest rate is 8.59%, according to Bankrate. The average HELOC interest rate is 9.37%. To compare, the average personal loan interest rate is 12.38% , Bankrate found. The average credit card interest rate stands at 24.92%, according to LendingTree.

Persons: Iuliia, McBride, Bankrate, Houzz, Jessica Lautz, We've Organizations: Houzz, National Association of Realtors, NAR Locations: U.S

☆ Trump, Vance double down on call for presidential influence on Fed policy
▼ + stars: | 2024-08-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

Joe Raedle | Getty ImagesThe president has no direct control over interest ratesAs it stands, the president exerts no direct control over interest rates. The Federal Reserve sets interest rates, and it operates independently of the White House. Last month, Trump said that if elected he would "bring interest rates way down." Now, however, Trump has cautioned against the Fed lowering rates shortly before the presidential election in November. "I think he's going to do something to probably help the Democrats, I think, if he lowers interest rates."

Persons: Donald Trump, Joe Raedle, Brett House, Trump, Fed Trump, Jerome Powell, Trump's, reappoint Powell, Powell, Greg McBride, Wells Fargo Organizations: Federal Reserve, White, Fed, Columbia Business School, Reserve Act, Republican, National Association of Black Journalists, Markets, U.S, Bloomberg Businessweek, Fox Business, Barclays Locations: Lago, Palm Beach , Florida, Chicago

☆ What to do now that the Fed is signaling lower interest rates
▼ + stars: | 2024-07-31 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +9 min

Given the many ways lower rates can affect your finances, here are some things to consider when deciding what steps to take in response. Here’s how lower rates may affect key areas of your financial life, along with tips on what to do about it. If that proves difficult to get, see if you can transfer your balance to a credit card from a credit union or local bank that offers lower rates than the biggest banks. And because many variables determine what that factor will be, it will be hard to figure out the impact of lower interest rates. His advice: Don’t keep more than six months’ to a year’s worth of living expenses in cash or cash equivalents.

Persons: ”, Greg McBride, ” McBride, “, Chris Diodato, Diodato, you’ll, McBride, ” Dodiato, Collin Martin, don’t Organizations: New, New York CNN, Federal Reserve, Bankrate, Schwab Center, Financial Research, AAA Locations: New York, Schwab.com

☆ The Federal Reserve sets the stage for a rate cut — here's what that means for your money
▼ + stars: | 2024-07-31 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

In the wake of the rate hike cycle, the average credit card rate rose from 16.34% in March 2022 to more than 20% today — nearing an all-time high. A recent report from the Philadelphia Federal Reserve showed credit card delinquencies at an all-time high, according to data going back to 2012. The best move for those with credit card debt is to take matters into their own hands, advised Matt Schulz, chief credit analyst at LendingTree. Home loan rates have already started to fall, largely due to the prospect of a Fed-induced economic slowdown. Student loansFederal student loan rates are also fixed, so most borrowers aren't immediately affected by the Fed's moves.

Persons: Greg McBride, McBride, Matt Schulz, Jacob Channel Organizations: Philadelphia Federal, Treasury, Auto, Consumers

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