But do think about refinancing your home mortgage.
Britain's economy contracted for the first time in seven years last quarter, according to official data published Friday, as the impact of the country's decision to leave the European Union, and the government's threat to do so without a trade deal, takes its toll.
Markets got hit hard in May when trade talks broke down and the president instituted new tariffs, but things are different now.
Retail investors are sitting pretty after Trump enacted more tariffs. See their fancy footwork executed in July.
The prime rate is the lowest rate at which money can be borrowed from commercial banks by non-banks. It typically tracks with the federal funds rate and is generally about 3% higher than the Federal Reserve's rate.
The announcement of a rate cut is just a trigger that leads to a series of reverberations, so know how to navigate the volatility afterward.
Jerome Powell is the Plain English Fed Chair.