Last week, New York Times Wall Street and finance reporter Louise Story explained how the Federal Reserve's new economic recovery plan, known as "quantitative easing," works. Story explained that the process is intended to effectively lower already-low interest rates, making it cheaper for banks to borrow money. But how will this impact ordinary, middle-class Americans?
Some economists say the strategy, dubbed "QE2," will create inflation, weaken the dollar, and increase the price of both gasoline and gold. We talk with Dan Gross, economics editor and columnist at Yahoo Finance about the trickle down effect of QE2. And truck driver Cliff Hagedon pulls off to the side of the road to explain how he's already seen the impact of the Feds' decision at the gas pump.