Rate cut: Good feelings may recede as fast as they rolled in

WASHINGTON: Like the tides, the wave of good feelings that swept over Wall Street and Main Street with the Federal Reserve’s big interest rate cut could ebb just as quickly. Homeowners opening up statements for their adjustable-rate mortgages come October will experience a jolt when the rates jump, but not as severe a jolt as it could have been. And, Wall Street’s mood swings — reflecting bouts of panic and then some relief — are expected to linger.

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