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.