President Wants Lower Interest Rates
Photo: David Dibert via Pexels
Vocabulary
interest rate /ˈɪn.tə.rəst reɪt/ noun
the extra money you pay when you borrow from a bank
The interest rate on my car loan is five percent.
borrow /ˈbɑr.oʊ/ verb
to take money from a bank with a plan to return it later
I will borrow money from the bank to buy a house.
economy /ɪˈkɑn.ə.mi/ noun
the system of money, jobs, and business in a country
A strong economy means more people have jobs.
Article
The president spoke about money and banks this week. He said interest rates should go down. Interest rates affect how much money costs to borrow. People use borrowed money to buy homes and cars.
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