Who Benefits From Yesterday’s Fed Rate Cut?

Yesterday saw an emergency Fed rate cut meant to help the economy. Whether it kicks start the economy or not, there are plenty of people who will see impacts in their personal finances from this move. Yahoo! Finance describes some of the areas that will benefit from yesterday’s Fed rate cut:
After the Fed’s rate cut Tuesday, banks quickly cut their prime rate — the rate they charge their best customers — to 6.5 percent. The prime rate also serves as a benchmark for credit cards and home equity loans, and those borrowers will benefit from lower rates.
Others to benefit include …read more