The Federal Reserve has cut rates by a quarter point, giving some relief to consumers with pricey debt but experts say borrowers feeling the pinch will have to wait some time for a reprieve. The cut was in line with economists expectations, bringing the federal funds rate down to a range of 4.5% to 4.75% from its previous 4.75% to 5% level. GettyThe Federal Reserve is walking a tight balance to tame inflation while not hurting the job market[/caption] ReutersFederal Reserve Board Chair Jerome Powell is expected to hold a press conference at 2pm[/caption] Greg McbrideBankrate’s chief financial analyst Greg McBride has urged consumers to pay off expensive credit card deb
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