Interest rates fell, but inflation rose. What you need to know

ALERT, THE FEDERAL RESERVE CUT INTEREST RATES EARLIER THIS MONTH. BUT NOW A NEW REPORT SHOWS THAT INFLATION SLIGHTLY INCREASED OVER THE LAST MONTH. AND FINANCIAL EXPERT FRED KREUTZER IS JOINING US NOW WITH MORE ON WHAT THIS MEANS FOR EVERYONE. GOOD MORNING. IN YOUR RAVENS PRIDE I LOVE IT ABSOLUTELY. TODAY’S RAVEN RIVALRY DAY. WE’RE READY. IT’S GOING TO BE AN EXCITING GAME. IT SHOULD HAVE BEEN EXCITING THAT INTEREST RATES FELL JUST A SMIDGEN. BUT IT REALLY DIDN’T HAVE THE DESIRED IMPACT. IT REALLY DIDN’T. AND IT’S NOT GOING TO ANYTIME SOON. SO EVERYBODY’S EXCITED THAT INTEREST RATES ARE STARTING TO COME DOWN. BUT IT’S A VERY GRADUAL PROCESS. SO THERE’S GOOD AND BAD THAT COMES WITH HIGH INTEREST RATES. NUMBER ONE, OBVIOUSLY IF WE’RE EXPECTING THAT ALL OF A SUDDEN MORTGAGE RATES ARE GOING TO BE DOWN TO THREE 4% ANYTIME SOON. IT’S NOT GOING TO HAPPEN. BUT THEY ARE BACK DOWN TO, YOU KNOW, 6%, WHICH IS BETTER THAN WHERE WE WERE OVER THE SEVENS. WELL, YEAH. OF COURSE. DEFINITELY BETTER THAN THE SEVENS, BUT NOT WHERE IT WAS EVEN JUST FIVE YEARS AGO. ABSOLUTELY. SO LET’S TAKE A LOOK AT WHAT SOME OF THE CHANGES THAT WE COULD BE EXPECTING ON THE HORIZON. ARE WE LOOKING FOR THE INTEREST RATES TO COME DOWN MORE? YES. WE SHOULD GET ANOTHER QUARTER OF A POINT. THIS YEAR AND POSSIBLY, MAYBE TWO, POSSIBLY THREE SMALL CUTS NEXT YEAR. BUT WE’VE GOT TO GET INFLATION UNDER CONTROL. SO YOU’RE SEEING THAT THEY’RE TRYING TO DO THAT. OBVIOUSLY FOOD PRICES AND EVERYTHING ELSE. IT’S IT’S INFLATION. YOU KNOW WE SEE IT EVERY SINGLE DAY. IT’S A REALITY. AND THEY’RE TRYING TO HEDGE THAT DOWN. SO THEY’RE NOT GOING TO BE TOO DRAMATIC TRYING TO BRING RATES DOWN TOO QUICK. WE’RE GOING TO HAVE A CHANGE IN ADMINISTRATION COME JANUARY 6TH. WHAT ARE WE LOOKING AT IN TERMS OF THE YEAR AHEAD WHEN IT COMES TO THAT? WITH THE INTEREST RATES, ANY SORT OF POSITIVE MOVE THERE? I BELIEVE THERE’S A LOT OF POSITIVITY TO IT. I THINK YOU’RE SEEING THAT, YOU KNOW, THE DAY AFTER THE ELECTION WAS DECIDED, THE STOCK MARKET HAD A REALLY HECK OF A BOOM FOR FIVE STRAIGHT DAYS. NOW, THAT SAID, WE’VE HAD A PULLBACK IN THE LAST COUPLE OF DAYS. SO WHAT YOU’RE SEEING IS NOW WE’RE TRYING TO GET A FEEL FOR WHAT’S GOING TO HAPPEN IN THE NEAR FUTURE. NOW, AS INTEREST RATES ARE HIGHER FOR BORROWING MONEY, THERE’S ALSO A POSITIVE SIDE OF THAT. SO IF WE HAVE SAVINGS IN THE BANK, THIS IS A TIME WE’RE ACTUALLY AT A 20 YEAR HIGH WHERE YOU CAN ACTUALLY PUT MONEY IN AN ACCOUNT WHERE YOU MAY GET A FIVE YEAR RATE OF ABOUT 5%, INTEREST RATES. SO OUR CLIENTS ARE GRABBING ONTO THE OPPORTUNITY TIME. SO YES, IT’S NEGATIVE ON ONE SIDE. AND THAT STINKS FOR US WITH CREDIT CARD DEBT. SO AS WE NEAR TO THIS CREDIT CARD SEASON, YOU KNOW, BE CAREFUL WITH OUR CREDIT CARDS. HOLLY SEASON’S COMING UP THERE. YOU KNOW THEY WENT DOWN A LITTLE BIT BUT THEY’RE STILL AT 23% JENNIFER SO HIGH. AND SO LET’S TALK ABOUT THE CREDIT CARDS FOR A SECOND. BECAUSE IF YOU ARE PUTTING THINGS ON ON THE CARD FOR THE HOLIDAY SEASON, YOU WANT TO MAKE SURE YOU’RE USING CARDS THAT ARE GIVING YOU SOMETHING BACK. YEAH. USE THOSE BONUS THINGS. HOPEFULLY WHAT YOU’RE TRYING TO DO AT THE END OF THE MONTH IS YOU PAY IT OFF ENTIRELY. THEN YOU BEAT THE SYSTEM, YOU’RE GETTING THE CREDITS, YOU’RE GETTING THE REWARDS. BUT IF YOU’RE GOING TO REWARD THEM WITH A 23, 24% INTEREST RATE, YOU’RE LOSING ALL DAY AND EVERY DAY. THAT’S NOT A POSITIVE. ALL RIGHT. AND THEN JUST REAL QUICKLY, AS YOU’RE LOOKING AT YOUR END OF THE YEAR FINANCES, ANY PIECE OF ADVICE YOU CAN GIVE PEOPLE, LIKE I SAID, THESE INTEREST RATES ON THE FIXED SIDE ARE OPPORTUNITY TIMES. I MEAN, I REMEMBER MY CLIENTS BACK IN THE LATE 1980S, EARLY 1970S, THEY WERE GETTING SEVEN 8% INTEREST RATES ON THEIR CDS. TODAY IS THE TIME. NOW IS THE TIME. DON’T LOCK IN FOR 12 MONTHS. GO MEET WITH THE FINANCIAL PROFESSIONAL. YOU CAN LOCK IN THESE RATES FOR 4 OR 5 YEARS AT 4 TO 5% GUARANTEED ON YOUR SAFE MONEY. GREAT OPPORTUNITY. AND HOW DO PEOPLE FIND YOU? CRUISER FINANCIAL DOT COM. ALL RIGHT. SOUNDS GOOD F