Well, it happened. The much anticipated interest rate cut has finally hit the American people, even though many of us were doubtful it would ever come.
On September 18th, Jerome Powell introduced the Federal Reserve's decision to cut rates by a half percentage point, which was greeted as welcome news. The historic cut was the first one of its kind in four years.
The half-point cut aims to restore price stability and lower borrowing costs, a necessity amid high inflation and a relatively softening labor market.
However, with the economy still adjusting from the pandemic's aftershocks, some experts believe the impact on wage growth, mortgage rates, and commercial landlords might not be enough to stave off further financial strain.
The choice by the central bank to lower interest rates by half a point is a significant move, yet many wonder: is it too little, too late for sectors like commercial real estate, where landlords are struggling under mounting debt? Read on to find out. In this article, you'll learn:
- About the FED's half point rate cut
- When following rate cuts will be
- Whether the rate cut has come too late for commercial landlords
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