Banks are unlikely to get much benefit from the Federal Reserve's latest cut in short-term interest rates.

The Fed cut its target for the federal funds rate by 25 basis points Friday, to 3%, the 24th time since 1989 that it has sought to stimulate the economy by making credit less expensive.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.