There is no question that there is a lot of tightening in the credit markets...particularly in the areas that you work in! I notice that the lenders in general are taking a lot less risk, and at the same time would-be borrowers are less willing to go into debt. Its a two-way street in that respect. You're right though, cutting the rate doesn't sway things quickly...but it might see some increased spending for some big ticket items and that would be a good start for the economy.
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