Signaling their inflation strategy is working, the Federal Reserve has cut interest rates by a better-than-expected half percentage point, bringing the federal funds rate to 4-3/4 to 5-percent. CBS News Business Analyst Jill Schlesinger tells us just about everyone is impacted by the Fed's decision.

(Getty Images / pabradyphoto)

Signaling their inflation strategy is working, the Federal Reserve has cut interest rates by a better-than-expected half percentage point, bringing the federal funds rate to 4-3/4 to 5-percent. CBS News Business Analyst Jill Schlesinger tells us just about everyone is impacted by the Fed's decision.
(Getty Images / pabradyphoto)

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Fed cuts interest rates half point which could have a huge impact on economy

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25-time Grammy award winner and Rock and Roll Hall of Fame inductee Stevie Wonder has announced a series of concerts through the month of October leading up to November's elections, including a stop in Minneapolis. WCCO's Steve Simpson reports.

(Photo by Joe Raedle/Getty Images)

25-time Grammy award winner and Rock and Roll Hall of Fame inductee Stevie Wonder has announced a series of concerts through the month of October leading up to November's elections, including a stop in Minneapolis. WCCO's Steve Simpson reports.
(Photo by Joe Raedle/Getty Images)

Fed cuts interest rates half point which could have a huge impact on economy

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