Fed cuts not doing the trick

Federal Reserve Chairman Ben S. Bernanke, it isn’t the interest rate that is slowing down the economy or a need to drop the interest rate to stimulate the economy. (“Fed chief hints at more cuts,” Feb. 28) There just isn’t any money around for us to spend.

The rebate checks aren’t going to help -- $300 will just barely buy groceries for a family of four for one week. Gasoline headed for $4 a gallon is money in someone else’s pocket.

Senior citizens are being hit hard when interest rates on certificates of deposit drop, taking millions of dollars out of our pockets that we could use to spend and help the economy.

Mr. Bernanke, leave the federal interest rate alone. Fix the dollar value that is dropping into the cellar.

Robert F. Hudson

Perris