The Fed’s decision to cut the benchmark interest rate by a half point on Wednesday could spur a new wave of home renovations as more people ready their properties for sale or take advantage of cheaper improvement loans.

We concluded that this was the right thing for the economy and the people we serve,” the Federal Reserve chair, Jerome Powell, said, referring to the central bank’s decision to cut interest rates by half a point.

After years of rate hikes in its effort to tame rising inflation, the central bank has elected to do something it hasn’t done since 2020: make a cut. While on one hand the Feds