The Fed cuts by one-half percent the federal funds rate, a rate that heavily impacts how much interest consumers pay on debts.

What does this mean?

Is it good news or bad news?

Breaking news story on http://www.usatoday.com/money/econom...terstitialskip

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"How much consumers pay on debts." Only for new loans. I'm sure the credit card companies won't reduce their rates at all.

They needed to do this, though, to keep housing going. It would be foolish not to, with the looses seen.

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Make someone's heart smile today.

Oh what to do, what to do....

We are planning on getting a home equity loan for our addition. Ideally, it would be in the spring. I wonder if they will continue to drop or if we should go for it now vs. then....

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The mighty oak started out as a nut that held its ground.

Am I the only one who has noticed credit card interest rates climbing? When I'm reading the newspaper, financial mags, etc it seems mid-teens is considered a good rate. Huh? When did that happen. I always thought 8% might be a decent credit card rate, now people are talking as though consumers should feel lucky if they get 16%.

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"Poor people work for their money. Rich people make their money work for them."

Ya, I had to laugh when I was reading about the Fed dropping the rate because in the article that I read it mentioned this would effect credit card rates -- credit cards rates are like gas prices, they never go down!