Fed rate cut will do little for economy

Columbus, OH – The Federal Reserve's decision this week to cut benchmark rates by nearly a full percentage point has resulted in speculation that another cut could be on the way. But one Central Ohio economist wasn't all that impressed with the first one. Jim Newton owns the Delaware-based consulting firm Economic Perspectives and also serves as the chief economic advisor for Commerce National Bank. In a conversation with Mike Foley, Newton calls the cut a mistake.