GRAND RAPIDS, Mich. (WOOD) — An interest rate cut by the Federal Reserve won't yet have a big impact on the local economy, and a new fee for H-1B visa applications will slow the area's efforts to bring in more tech jobs, a local economic expert says.

Economics professor and associate dean at the GVSU Seidman College of Business Paul Isely stopped in on the News 8 Live Desk to chat about how national headlines are impacting the local economy.

The Federal Reserve last week lowered interest rates by a quarter percentage point as unemployment starts to pick up, and two more cuts are possible by the end of the year. The move is not yet expected to have a big impact on local businesses and consumers, Isely said, as mortgage rates are barely moving.

President Donald Trump, meanwhile, is trying

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