Last Federal Reserve rate cut?

The Federal Reserve cut interest rates today .25%, for the seventh straight time since September of last year. This is the lowest federal funds rate since 2004.  Many experts believe that the Fed is done cutting interest rates and will begin a new watch-and-wait policy. This new policy is due - in part - to the fact that the first Stimulus Act rebate checks are hitting millions of mailboxes this week. The Fed hopes this money gives a boost in the arm to the economy.