What to know about Arkansas housing after interest rate cut [Video]

ARKANSAS, USA — On Wednesday, the Federal Reserve cut interest rates by .50 percentage points. This is the first rate cut in more than four years. 

The Fed said the cut lowers the federal funds rate into a range of 4.75% to 5%, which is down from its prior range of 5.25% to 5.5%. 

“What we’ve seen in the last couple of months is the unemployment rate has ticked up ever so slightly. And so, today’s rate cut reflects the environment where inflation rate has declined to two and a half percent, and they’re trying to prevent the unemployment rate from going up any further,” said Mervin Jebaraj, Director for the Center of Business and Economic Research at the University of Arkansas. 

“Immediately after the …