When the Federal Reserve Board changes the federal funds rate, it intends to change the economy. Otherwise, why bother?

The Fed has the nation’s economy in mind when they move, of course, but its actions could have an impact on your household’s economy too. If you’re a borrower, a cut probably helps you. If you’re a saver, it might not.

In any case, it’s a good idea to look over your finances and see what the best moves to make are in the current financial climate:

— Posted: Aug. 12, 2003