The Federal Reserve lowered its benchmark interest rate by a quarter point on Dec. 10, the central bank’s third cut since September and a shift that brings its key rate to about 3.6% — the lowest level in nearly three years.

The move follows a nine-month pause in cuts and reflects the Fed’s ongoing effort to support economic growth amid easing inflation.

The latest rate reduction will have mixed effects across the economy.

Rate cut impact on savings

For savers, the decline means the end of unusually high returns offered by certificates of deposit and high-yield savings accounts over the past year. Those rates are expected to continue slipping as financial institutions respond to the Fed’s move. Holiday shopping: We found the best Cyber Week deals for you.

Rate cut impact on real es

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