East Texas economist says Fed decision to cut interest rates could impact housing market, holiday spending

WACO, Texas (KLTV) - An East Texas economist shared his reaction after the Federal Reserve’s decision to cut interest rates at its December meeting.

The central bank lowered interest rates a quarter-point to between 3.5 and 3.75 percent on Wednesday, representing the third cut in a row.

“This one was very much anticipated,” said Dr. Perryman, president of The Perryman Group. “The market was anticipating this rate cut, so it fulfills the market expectation, which is good. I think they’ll be taking a very close look at the minutes when they come out to see kind of what that says about what future rate cuts may look at, but this one was largely anticipated.”

“It indicates that the Federal Reserve’s worried about the job market right now, and they’re trying to do some things to sort of help