What the Fed's interest rate cut means for Texans

The Brief

The Fed cut its key interest rate for the first time this year, with ripple effects expected throughout the economy.

The move comes as Texas faces economic uncertainty, with job growth slowing and low credit scores among residents.

Borrowing costs are expected to go down, but the impact on the housing market is still unclear.

TEXAS - Now that the Fed has cut its key interest rate for the first time this year, ripple effects are expected throughout the U.S. economy .

Here's a look at what that means for residents in Texas, where job growth, construction, and financial security have seen recent turmoil.

Texas economic uncertainty

Local perspective:

Texas is the eighth largest economy in the world. In spite of that, the state was recently ranked as that with the most f