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How do interest rate cuts affect consumers?
The Federal Open Market Committee (FOMC) meets regularly to decide what, if anything, to do with short-term interest rates. Stock traders almost always rejoice when the Fed cuts interest rates, but does a rate cut equal good news for everyone? Read on to find out. In Pictures: Biggest Stock Scams What is the rate? When the Fed "cuts rates", this refers to a decision by the FOMC to reduce the