Fed drops rate for 1st time since 2020; 30-year loan rate just above 6%; inflation lowest since early 2021
The Fed dropped its benchmark rate today by half a point: As illustrated, once the Fed decides a change in direction is warranted, it can make significant changes quickly.
The daily average 30-year rate is running a little above 6% (though it actually ticked up slightly a few days ago).
Stock markets as of 9/18:
The general inflation rate dropped in August to its lowest reading since early 2021.