Fed’s Reduction of Interest Rate

Hooray! Golly gee! The Fed just reduced the interest rate to 3 1/2%. The lowest in 27 years. But how about food, clothing, other products, services and apartment rentals that have jumped in some cases about 200% in the past few years?

So now, the “little old retired ladies and gentlemen” (me being an 82-year-old and one of them) will have to dig into their nest eggs in order to come out even before they die! Last time I looked, my renewals on CDs are down from 7% to 8% to 4.35% and will go even further down, I am afraid.

If I were not scared I would say “revolting, ain’t it?”

MIRIAM A. MASON

Beverly Hills