The Best Rate-Cut Stock to Invest $1,000 in Right Now
SoFi Technologies(SOFI) The Motley Fool·2024-10-02 18:05
The Fed's interest rate cuts should only fuel the fire for this hypergrowth fintech. The Federal Reserve recently announced a 50-basis-point reduction to the U.S. economy's benchmark interest rate to kick off what should be an easing cycle in which interest rates throughout the economy decline. The Fed had ratcheted up rates in 2022 to combat rampant inflation. Rate changes affect consumers, businesses, and almost every other part of the economy. Companies that borrow or lend money are especially sensitive, ...