But the Fed's recent rate cut, and any future rate cuts that come down the pike in the next year, should not influence your retirement savings strategy. Simply put, if you're still many years away from retirement, you should be putting the bulk of your savings into the stock market.

Find out how the Federal Reserve’s interest rate cut could affect your retirement savings, investments, and mortgage payments.

Last month though, the Fed made a key move to turn things around. The central bank cut rates for the first time in four years, going for a deeper-than-expected cut -- 50 basis points instead of 25 -- and suggested it will lower rates another half point by the end of the year.

Plus the week included a stop in Detroit by Lael Brainard, the director of the National Economic Council, who spoke to the Detroit Economic Club.

Federal Reserve Chair Jerome Powell on Monday said the U.S. economy is in "solid shape" and that more interest rate cuts can continue if the economy continues to evolve as expected.

Friday’s job market figures in the US were very strong, suggesting that in fact there was no need for a large rate cut. This is the kind of macro climate we have seen in the mid and late 1990’s.

Promotions on CDs already aren't as good as they were in January, but some attractive yields of 4% or higher remain on one-year CDs.