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Columbia Business School Professor Brett House spoke with CNBC reporter Jessica Dickler about how another Federal Reserve interest rate cut could influence consumer loans and personal borrowing costs. House explained that while lower rates typically reduce the cost of mortgages, auto loans, and credit card interest, the extent of the impact depends on how quickly financial institutions pass on these changes to consumers. He noted that for households already managing significant debt, even modest reductions in interest rates can provide meaningful relief and improve financial stability.
