Be Well: What to Know About Managing Credit Card Debt
Leslie Tayne, a financial attorney, joined Cheddar News with some advice for viewers on managing credit card debt, noting that one of the first steps people can take in protecting their finances is to not open too many credit cards. "If you end up with 10 or 15 different credit cards and the balances go up, any savings that you might have had with the discount to get the card is eliminated if you don't pay it off at the end of the month," she said.
The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year.
Eliott Wellenbach, vice president and institutional ETF strategist with Direxion, joined Cheddar News to discuss what traders are expecting from consumer spending ahead of the holidays and how they're positioning themselves following the latest inflation data and mortgage rates.
