News from the South - Texas News Feed
Fed slashes interest rates in first cut since 2020
SUMMARY: The Federal Reserve has unexpectedly cut interest rates by half a percentage point, reducing the benchmark rate to 4.75%, to support the economy and combat rising unemployment. This move follows a significant drop in inflation, from 9.1% in 2022 to 2.5%. While the cut aims to help borrowers, such as those seeking mortgages or car loans, the immediate effects may be slow to materialize, particularly with current high rates for used cars and credit cards. The Fed anticipates further rate reductions in the coming years, signaling a commitment to enhancing economic strength and stability.
Inflation has plummeted from a peak of 9.1% in June 2022 to 2.5% last month, not far above the Fed’s 2% target.
News from the South - Texas News Feed
Zebra mussels in Texas water system eradicated using copper
SUMMARY: Zebra mussels, an invasive species, are thriving in Texas lakes, including Lake Georgetown. While eradicating them from large lakes is difficult, Brushy Creek Municipal Utility District has successfully removed them using a system that dissolves copper via electrical charge. This copper, toxic to zebra mussels, coats pipes and prevents the mussels from attaching. Texas Parks and Wildlife notes that chemical treatments are costly and typically ineffective in large lakes. The successful eradication of zebra mussels from Lake Waco in 2021 was due to early detection and smothering. The copper system used by Brushy Creek poses no risk to humans.
The post Zebra mussels in Texas water system eradicated using copper appeared first on www.kxan.com
News from the South - Texas News Feed
Dallas snow: 4 inches in some areas | FOX 7 Austin
SUMMARY: In Denton, families are enjoying a snow day with about four inches of snowfall, creating opportunities for snowball fights, snow angels, and snowman-building. With schools closed, kids are out making the most of the winter weather. However, drivers are advised to proceed cautiously on the roads, as conditions can be slick and slushy, especially in residential areas yet to be cleared. Snow plows and salt trucks are actively working on major highways, but some roadways remain challenging. For safety, it’s recommended to stay home unless travel is necessary, and to drive slowly if venturing out.
FOX’s Tisia Munzinga has a look at the winter weather from Denton.
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News from the South - Texas News Feed
How Houston residents can handle high-cost credit card debt
SUMMARY: According to a recent report by bankrate.com, nearly half of credit card holders carry debt month-to-month, with Gen Xers holding the most debt due to their financial responsibilities. Surprisingly, higher-income households also report significant long-term credit card debt, often due to high living costs. Most card debt arises from unexpected expenses or daily living costs rather than luxury purchases. To manage debt, experts recommend paying off high-interest cards first or utilizing 0% balance transfer offers. Nonprofit credit counseling can assist those with substantial debt, providing manageable repayment plans at reduced interest rates.
A new report from Bankrate.com shows almost half of credit cardholders carry debt from month to month.
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