Laramie, Wy – The Federal Reserve's cut of a key interest rate today (Tuesday) will not make much of a difference to Wyomingites. That's according to University of Wyoming economist Sherrill Shaffer. He says, on the one hand, smaller banks will not cut the interest rate they pay to customers for keeping money in a savings account because of fierce competition in the industry. He adds that since their overhead costs are not going down as a result of the rate cut by the federal reserve, they're also not able to pass along rate cuts along on the loan rates that they charge borrowers. For that reason, Shaffer says not to expect discount on your next loan rate, either. Shaf-fer says Wyoming's economy continues to be strong, despite problems in other parts of the country, especially in the housing market. But he warns against smugness, saying those problems can spread quickly.