The Fed cut interest rates...and Jeff LOST money in his retirement account! CPA and money manager Bill Dendy explains why and what consumers can expect over the next few months; Jeff details the agony suffered by MOST baseball fans after the trade deadline passed; Rachel Sutherland of Fox Radio News discusses the winners and surprise loser of the Democratic debate; Jeff discusses ideas to keep kids from dying in overheated cars and illustrates how Kamala Harris created confusion over her health care plan as candidates head for the Iowa State Fair. Click to hear hour two of Need To Know With Jeff Angelo for 8/1.