 Ann Owen is an economist at Hamilton College. She says even when the Fed does decide to cut rates, the economy doesn't immediately roar back to life. That's partly because when would-be borrowers see one interest rate cut, they wait for more. If you are a person who's thinking, wow, I want to buy that new car, but rates are just a little bit high. Well, when the Fed cuts rates eventually, they're not going to do it just once. You should wait a little bit if you can, because they're going to go down even more.