The Federal Reserve has just cut the key rate by three quarters of a point. This is the largest cut in over 20 years and should help stimulate the economy to a certain degree. As fears of a recession looms, the Fed said the rate-cut was to help restore confidence in the U.S. economy. The Fed also approved a decrease in the discount rate — which, among other things, impacts how consumers pay home equity lines of credit — to 4 percent. The Fed’s next scheduled meeting is on Jan. 30, where analysts say another rate-cut may be likely. The Fed should be commended on their decisive action to help keep the country from slipping into a recession.

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