The Fed cut its rate for the second time this year

So, it happened again! The Fed (Federal Reserve Bank) has lowered it's discount rate by another .25%. Other banks should follow the suite so if you have a home equity loan of credit or other loan tight to the "prime rate", expect your monthly payments to inch down few bucks. Enjoy the rate cut since another one may not come for another few months or maybe even years. Some economists say the Fed may be more inclined to raise the rate back up if the economy shows enough signs of improvement next year.