In its September meeting, the Federal Reserve is set to lower interest rates for the first time since the pandemic, claiming victory over its long-standing battle to bring record inflation down. The Central Bank began raising its benchmark interest rates in early 2022 and has since then seen inflation fall from more than 9% to about 2%.During that time, Americans continued spending and employers added jobs. As inflation comes into range, many employers are creating fewer new positions.Now, the Fed wants to make it easier to borrow money by lowering rates in order to avoid a recession. Economists say lowered rates come with benefits and drawbacks for consumers.”People who are buying a home will face lower mortgage rates. People who have car loans will face lower mortgage rates,” Louise Sheiner, an economist at The Brookings Institution, said. “On the flip side of that, people who have been getting really high …
