FED CUTS RATES .5%

The federal reserve went to work for the consumer, or should I say the borrower. They say this won't make that much of a difference in the Economy, I disagree. Lower interest rates increase buyer's purchase power with homes. They also feed the consumer, now credit cards, Lines of Credit payments and car payments are lower. This will give the consumer more discretionary spending to help revive the economy.

Fed Cuts Rates Half Point To Lowest Level in 4 Years
AP 29 Oct 2008 04:28 PM ET
The Federal Reserve slashed a key interest rate by half a percentage point as it seeks to revive an economy hit by a long list of maladies stemming from the most severe financial crisis in decades. AP
The central bank on Wednesday reduced its target for the federal funds rate, the interest banks charge on overnight loans, to 1 percent, a low last seen in 2003-2004.
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