Even though yesterday’s Fed rate cut initially saw a boost to the stock market, that was short-lived. Worries that the economy is heading into a recession are overcoming any benefits the Fed rate cut may have bestowed on the market. Indeed, even with last week’s emergency Fed rate cut, some expect that March could see another cut. Reuters reports on the results of the Fed rate cut:

This overshadowed the Fed’s move on Wednesday to slash its
key fed funds rate by 50 basis points to 3 percent — the lowest
since June 2005 — following last week’s emergency 75 basis
point cut to halt a sharp slowdown in an economy struggling with
a housing slump and credit crunch.

The Fed rate cut will probably help your credit card interest rates, as well as affect your HELOC or ARM. It may even slightly affect first time mortgage rates. But sit tight on your retirement portfolio. That will need longer to recover.