Local impact of the federal interest rate drop

SPRINGFIELD, MO. — The Federal Reserve announced they were cutting the federal interest rate by half of a percent this week.

That doesn’t come as a shock that there would be a cut to Richard Baker, who leads Fervent Wealth Management.

It’s the amount that caught him off guard.

“We were expecting the Federal Reserve to lower rates on this session, but we were surprised by how much they lowered it. We were expecting a quarter percent and they did a half percent, and that’s significant. So we’re concerned that the Federal Reserve may be concerned about the market going forward,” Baker said.

The full article is available at ozarksfirst.com.

(Story by Parker Padgett, ozarksfirst.com)