How you may be affected by the Fed's rate-cut

The US Federal Reserve has reduced the borrowing rate by 3/4% -- a significant and unexpected amount -- in an effort to stimulate the US economy and to help alleviate some stresses resulting from the sub-prime mortgage problem. The Fed’s cut to 3.50% was its first emergency move since 2001 and the largest single reduction since 1984.

What is the impact on the US economy and what is the impact on your personal finances?

How you may be affected by the Fed's rate-cut

Give a man a fish and feed him for a day...
Will the proposed "stimulus package" proposed by President Bush aid the economy? In a word: No. The proposed one-shot payment will do little.