Leone Rouge Management Consultants, LLC

A year has elapsed and the OSDBU is preparing for new initiatives. I recently attended an HHS executive briefing. I am feeling optimistic about the future.

Inflation is cooling off, and today, the Federal Reserve has reduced interest rates for the first time in four years.

Interest rates were reduced by a half point (.50 percent).

If you’re wondering how this impacts your wallet, savings, and taxes, here's a summary:

It may cost less to borrow.
Lowering interest rates could make loans like mortgages, credit cards, and auto loans tied to prime rates more affordable, making it easier to purchase your dream home and pay less to borrow money.

Student loans may become less expensive. Private student loans are tied to Federal rates, so your interest rates and payments on those could also decrease.

Lower interest deductions.
With lower interest rates, you may find a lower mortgage interest deduction if you refinance for a lower rate or a lower student loan interest deduction if you have a private student loan.

However, you can still lower your taxable income with these deductions.

For more information on what this means to you, book a meeting with me @ https://www.leonerougemc.com/
(682)298-0364

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