The final Fed meeting of the year wraps up today, and the Fed is expected to keep things as they are right now when it comes to interest rates.
This is different than the last few meetings. In fact the Fed cut interest rates three times this year. Greg McBride with BankRate tells KTRH that now is a time to stand pat.
"They would really only cut rates down the road if the economic date compels them to. It would take a sharp slowdown in the economy for them to go back to cutting rates," McBride said.
This as the economy continues to deliver good news in jobs numbers, wages, and as the U.S. and China work towards resolving their trade issues. McBride says the low rates right now give you an opportunity to get your financial house in order.
"Now is the time to be doing housekeeping. Use the low rates as a tailwind towards debt consolidation and repayment," McBride said.
So that when that rainy day does come, and it always does, you are better prepared for it.