Today it was announced by the Federal Reserve Board (the "Fed") that interest rates are cut by 0.5%. The Fed has held interest rates at this highest point for over a year - the highest point in over 20 years. This rate cut will have a domino effect of lowering the cost of film and tv productions, as I've said in a previous blog post.
The amount of the rate reduction was more than many people expected. Plus, the Fed has penciled in a plan for stair stepped rate cuts in the future.
We're not sure how quickly the rate cuts will affect productions getting greenlit, so we're not holding our breath. Major roles for trans actors have been coming in for projects shooting outside the United States, so hopefully in the near future, we'll see more projects for US facilities in the near future.
Finally a bit of light at the end of the tunnel!