October 14, 2024 ~ Lucy Ann Lance talks with Mark Munzenberger, Financial Education Manager, University of Michigan Credit Union. In mid-September, the Federal Open Market Committee reduced its key overnight borrowing rate by 50 basis points for the first time since early in the COVID pandemic. This decision, as noted by Chairman Jerome Powell, aligns with inflation moving toward a sustainable 2% target and balanced risks to employment and inflation goals. Mark Munzenberger from the University of Michigan Credit Union highlighted that this is significant, as it’s been over four years since such a rate cut occurred.