NATIONAL ( 25News Now ) - Wednesday, the U.S. Federal Reserve changed the interest rate from 4.3 % to between 4% to 4.25%, and a local financial advisor is spelling out what that could mean for Central Illinoisans.

A financial advisor with the firm 210 Financial in Morton, Kendall Stahl, said the federal government uses interest rates to slow down the economy depending on what needs to be done. He also said with the current high inflation rates, this could mean the economy is in a good spot.

Stahl defined interest as the amount of money a person could earn from saving money in a bank, or how much extra someone will pay when borrowing.

He also said the decrease is not a direct correlation to mortgage and credit card rates, but those numbers could decrease somewhat.

He believes the

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