Big U.S. Banks Trim Prime Lending Rates After Fed Cut
In response to the Fed’s rate drop, major banks like JPMorgan, Citi, Wells Fargo, and Bank of America lowered their prime lending rate from 7.50% to 7.25%. The move should ease borrowing for businesses and consumers, but inflation remains above target, and uncertainties around trade and tariffs still weigh on lender sentiment.}
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25 days ago
Big U.S. Banks Trim Prime Lending Rates After Fed Cut
In response to the Fed’s rate drop, major banks like JPMorgan, Citi, Wells Fargo, and Bank of America lowered their prime lending rate from 7.50% to 7.25%. The move should ease borrowing for businesses and consumers, but inflation remains above target, and uncertainties around trade and tariffs still weigh on lender sentiment.}
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Big U.S. Banks Trim Prime Lending Rates After Fed Cut
26 days ago
1 min read
52 words
Following the rate cut, U.S. banks reduce prime lending rates, easing some borrowing costs.
In response to the Fed’s rate drop, major banks like JPMorgan, Citi, Wells Fargo, and Bank of America lowered their prime lending rate from 7.50% to 7.25%. The move should ease borrowing for businesses and consumers, but inflation remains above target, and uncertainties around trade and tariffs still weigh on lender sentiment.}
In response to the Fed’s rate drop, major banks like JPMorgan, Citi, Wells Fargo, and Bank of America lowered their prime lending rate from 7.50% to 7.25%. The move should ease borrowing for businesses and consumers, but inflation remains above target, and uncertainties around trade and tariffs still weigh on lender sentiment.}