KeyCorp Slashes Prime Lending Rate to 7.00% – Here’s What Borrowers & Investors Need to Know
Fed Rate Moves and Prime Rate Last week’s Federal Reserve meeting delivered a 0.25% rate cut (its second this year), which immediately set off ripples across banking. In mid‑September, the Fed’s first cut prompted JPMorgan, Citigroup, Wells Fargo and others to trim their prime lending rates from 7.50% to 7.25% Reuters. Now, following the Oct. 29 cut, banks are pushing…