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  2. The Fed rate cut: 5 ways lower rates will affect your wallet

    www.aol.com/finance/what-does-fed-rate-cut-mean...

    For instance, the prime rate rose to 8.50% in July 2023 just as the target Fed funds rate increased to a range of 5.25% to 5.50%. How soon do credit card APRs change after a Fed rate decision?