The Federal Reserve lowered the interest rate by a half percentage point today. Its the first rate cut in four years. North Dakota State University’s Dr. James Caton, a scholar at the Challey Institute for Global Innovation and Growth and an associate professor of economics in the Department of Agribusiness and Applied Economics at North Dakota State University, says the Fed is willing to provide support as long as inflation doesn’t worsen.
Dr. Caton believes the rate will end up between 4% and 4.5%. He also said to watch for mortgage rates to see if they come down.
You can hear the entire interview here:
