# @vadogwoodnews on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/DAGvfBwpibn
- **Gondola URL:** https://gondola.cc/posts/23379547-vadogwoodnews-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/fc36f2cb7e.jpg
- **Posted:** 2024-09-19T16:25:06.000+00:00
- **Account Owner:** Dogwood (@vadogwoodnews) — https://gondola.cc/vadogwoodnews

## Caption

The Federal Reserve on Wednesday announced that it was slashing its key interest rate by half a percentage point, a move that could boost the economy and help lower mortgage rates and housing costs.

The federal funds rate will now move down to about 4.9% — the lowest it’s been since March 2023 — effectively making it cheaper for consumers to borrow money.

The decision comes as inflation has cooled dramatically in recent months, with the 12-month inflation rate falling to 2.5% in August, the lowest level since Feb. 2021.

...To read more, click the link in our bio and for more Virginia news and updates, follow us vadogwoodnews

#housing #federalreserve #housingcosts #housingcrisis #virginianews

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## Tags

housingcrisis, federalreserve, housingcosts, housing, virginianews

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