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Poll results

On Sept. 18, the Federal Reserve cut interest rates for the first time in four years, lowering rates by 0.5 percentage points. As a result, banks including JPMorgan Chase, Bank of America, and Wells Fargo reduced their prime rates. With two more Fed meetings left in 2024, economists foresee interest rates continuing to trend downward.

The Fed had been keeping interest rates high in an effort to fight inflation and slow the economy by increasing the cost of borrowing. By lowering rates, the Fed hopes to stimulate economic growth by encouraging businesses to make major investments in people and property and address a softening labor market, which has seen unemployment rates slowly tick up.

Is your business planning on making major purchases as interest rates decrease?
Yes, we’ve been holding off on large purchases and are looking to take advantage of lowered rates. (16%, 14 VOTES)
Yes, but lowered interest rates are a coincidence as we were planning on making the purchase anyway. (12%, 11 VOTES)
No, we would like to, but we are not in the financial position to make large purchases even with lowered rates. (24%, 22 VOTES)
No, we don’t have any plans to make major purchases. (48%, 43 VOTES)
Poll Description

On Sept. 18, the Federal Reserve cut interest rates for the first time in four years, lowering rates by 0.5 percentage points. As a result, banks including JPMorgan Chase, Bank of America, and Wells Fargo reduced their prime rates. With two more Fed meetings left in 2024, economists foresee interest rates continuing to trend downward.

The Fed had been keeping interest rates high in an effort to fight inflation and slow the economy by increasing the cost of borrowing. By lowering rates, the Fed hopes to stimulate economic growth by encouraging businesses to make major investments in people and property and address a softening labor market, which has seen unemployment rates slowly tick up.

  • 90 Votes
  • 0 Comments
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