The Federal Reserve cut interest rates by 25 basis points at its September meeting on Wednesday — the first rate cut in 2025. The US central bank currently forecasts two more rate cuts in 2025. Yahoo Finance Personal Finance and Banking Editor Casey Bond joins Mind Your Money with Allie Canal to explain what Fed rate cuts actually mean for your wallet. Make sure to sign up for the Mind Your Money newsletter, and click here for more information and tools on managing your finances. To watch more expert insights and analysis on the latest market action, check out more Mind Your Money: https://finance.yahoo.com/videos/series/mind-your-money/
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