Associate Professor Tibor Besedes joined a panel of experts to talk about the economy on 1a, a radio show syndicated by NPR. The episode, entitled "Smarten Up About the Economy," aired on July 30. 

Here's an excerpt:

It’s extremely likely that the Federal Reserve will decide to lower interest rates this year.

Lost already? Yup, us too. Here’s more about how the cut might affect you, per Gizmodo’s Lifehacker:

"When the Fed cuts interest rates, it usually means it’ll cost less to borrow money—whether you’re applying for a new credit card or taking out a mortgage.

However, interest rate cuts aren’t typically associated with a growing economy. As Ann Saphir at Reuters reminds us, the last time the Federal Reserve lowered interest rates was during 'the depths of the financial crisis more than a decade ago.'"

So what’s behind the Fed’s choice? Does the American economy need the support of an interest rate cut?

Listen here. Questions to Besedes start at the 24:28 mark.

The School of Economics is a unit of the Ivan Allen College of Libeal Arts.