The Best Rate-Cut Stock to Invest $1,000 in Right Now

The Federal Reserve recently announced a 50-basis-point reduction to the U.S. economy's benchmark interest rate to kick off what should be an easing cycle in which interest rates throughout the economy decline. The Fed had ratcheted up rates in 2022 to combat rampant inflation.Rate changes affect consumers, businesses, and almost every other part of the economy. Companies that borrow or lend money are especially sensitive, so the rate cut is a big deal for a digital bank like SoFi Technologies (NASDAQ: SOFI). The stock has disappointed investors for the past few years, but SoFi could be a big winner in this new, lower-rate economy.Here is why investing $1,000 in the fintech's stock today could generate significant returns.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool