Welcome to the Jill on Money Podcast, a little secret extra one. We're sliding in a segment

from CBS this morning where I talk about today's Federal Reserve decision and what it means for you.

CBS News Business analyst Jill Schlesinger is here with how this could affect your bottom line

but Jill for, not Bill not Bill clarify something for it first

translate.

Clarify that the economy is supposed to be doing well but now we're talking about

the second cut in a year how so well you know if you turn back a year ago the

Fed chair was saying that the economy's in great shape it's really strong and now a

year later what we know in hindsight is that the corporate tax cut that went into effect in the beginning of 2018

It just didn't deliver the promised benefits we got one good year of growth in 2018, 2.9%, but now a year later, we're back to 2% growth.

And part of that has to do with the effect of the tax cut wearing off, but of course we have all the trade war issues going

on US China Japan Korea we have uncertainty over Brexit we have real concerns

hanging over this market and so right now the Fed wants to get ahead of this

slowdown from 2.9 to 2% and hopefully prop up the economy a little bit longer.

So a rate cut is good for borrowers, not so good for

savers and it's a bummer because savers always write me after these segments

and say I was the good person, I put money away. Exactly and it really does hurt but

I would encourage savers to be a little bit more active in this process because it does look like the Fed's going to keep cutting rates.

Maybe one, maybe two more times.

So take this opportunity, shop around, go online, talk to credit unions,

there are alternatives. We tend to be a little bit lazy when it comes to just taking

whatever our bank delivers. So you see opportunity here is what you're saying

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