Possible rate cuts could help New Mexico business
The high cost of living might have a silver lining for New Mexicans if the Federal Reserve Bank lowers its interest rate next month. In a speech last week, Fed chair Jerome Powell hinted that a reduction in the rate big banks will pay for overnight lending could be announced in September, and economists from the University of New Mexico and New Mexico State University said if that happens, it could be good news for this state and its residents.