Analyst says the Fed rate cut will gradually benefit Illinois finances

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Analyst says the Fed rate cut will gradually benefit Illinois finances

(The Center Square) – The Federal Reserve’s half-point interest rate cut is meant to stimulate the economy, but a budgetary analyst says this shift in monetary policy also represents an important change in the operating environment for state budgets. It is the first interest rate cut in four years. Outside of the emergency rate reductions during the pandemic, the last time the Federal Open Market Committee cut by half a point was in 2008 during…