Chief executives such as Ara Hovnanian were the among the loudest voices calling for the Federal Reserve to cut interest rates. Now, after the Fed's surprisingly sharp reduction in rates on Tuesday, CNBC asked several CEOs if they're happy.

Like the tides, the wave of good feelings that swept over Wall Street and Main Street with the Federal Reserve's big rate cut could ebb just as quickly.

Despite the Federal Reserve's surprisingly sharp cut in interest rates, some analysts think the central bank may not be done.

Traders are incensed that the Fed's move was unanimous a few days after a number of Federal Reserve officials implied they were at best neutral on a rate cut, and many reiterated they would not bail out bad investments.

In a live telephone interview with CNBC's Becky Quick, Warren Buffett said today's decision by the Federal Reserve on interest rates won't make "any difference whatsoever" to his investment decisions. He said even if he knew exactly what the Fed's announcement will be at around 2:15pm ET today, he would "change a single buy or sell order."

Oil struck a new record over $82 Wednesday as falling U.S. inventories and the threat of a storm gathering near Florida renewed supply concerns in the world's biggest energy consumer.

The dollar rallied from a 15-year low against a basket of currencies Wednesday, as investors bet the Federal Reserve's interest rate cut Tuesday will help boost a slowing U.S. economy.

The Federal Reserve acted Tuesday, cutting the fed funds rate and the discount rate by a half-percentage point each.  Oil jumped to a new high as the news was announced and immediately afterwards, stocks rallied in the strongest reaction to a Fed move since 2001. With the Fed funds rate now at 4.75 percent and the discount rate at 5.25 percent, where will the market go? CNBC's experts weighed in.