Nov 01 2008
How Does the Fed Rate Cut Affect You
The Fed cut interest rates again on Friday, sending stocks a mixed signal. For consumers this could mean several things, not the least of which is that thier monetary future is still a mixed bag.
Hopefully lending institutions will find ways of making this money avaialable to consumers either directly or indirectly by injecting businesses with the capital they need to hire and retain employees. Small businesses, in particular, have been hit hard by the credit and lending crisis and have been forced to make reductions including layoffs.
One thing to watch out for during these kinds of times are the scam artists who prey on the insecurity surrounding the unpredictable future. Be especially wary of those who claim to have inside information regarding businesses or government plans. Anyone claiming to know the direction of the stock market or the direction of the credit markets is either a liar or a fool. Even the experts disagree about nearly everything, except that the future is uncertain.
Use a healthy dose of common sense in these times to avoid trouble.
