Fed's Rate Cut Tumbles Savings APYs!

[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]While investors had speculated a rate cut of 0.5%, the Feds went ahead and surprised all with a 0.75% rate cut! This is the Federal Reserve's biggest interest rate cut in 18 years. The new rate of 3.5% is the lowest since September 2005. Though this act reflects serious concerns about a deteriorating U.S.