On Thursday, June 23, 2016, it was recorded that 17,410,742

British citizens (51.9 percent of voters) voted in a referendum to leave the European Union (EU). The majority of Britain believed leaving the EU would make for a stronger Britain, as the people feel their membership has weakened their capacities and the capacities of their political leaders. However, Brexit has already begun to create significant economic insecurities at home and abroad. There have been questions about foreign trade and how this will be affected. At the moment, there is no way to tell for sure. An even larger lingering question is, "What does this mean for the American people?"

“A U.K. vote to exit the European Union could have significant economic repercussions,” Fed Chair Janet L. Yellen said Tuesday.

1. The U.S. dollar is now stronger, therefore, it has more buying power abroad.

In fact, the value of the pound is decreasing as well. This is good news for those of us who visit Britain as the exchange rates benefit Americans.

2. Our stock market will be affected because of these new insecurities regarding foreign trade and Britain's economy in general.

There is no telling what Britain's break from the EU will mean for foreign trade with other European countries or with the United States, leaving the economic atmosphere uncertain.

3. Additionally, Americans who invested in the stock market through their retirement plants are now susceptible to financial market turmoil surrounding Brexit.

Ylan Q. Mui explained in his article, "Three Big Ways Brexit Could Affect Americans Personally," how Americans who participate in their company’s 401(k) are left exposed to financial market turmoil surrounding Brexit. Because retirement plans are long-haul investments, "most financial advisers don’t recommend making significant changes to your portfolio when faced with turbulence."

4. Ultra-low mortgage rates for the American people.

Mortgage rates are closely tied to the yield on 10-year U.S. government bonds, which tend to be influenced by the Fed’s benchmark overnight lending rate. Britain's break from the EU has generated the recent unpredictability in global financial markets, which has "anxious investors scurrying for safety -- and few assets are safer than U.S. Treasuries. High demand for government debt pulls down interest rates."

Some general statistics surrounding the Brexit vote: