Lower interest rates will soften the prices consumers pay for debt — but people may not see an impact on their payments for a while

Republican presidential candidate Donald Trump said on Thursday the U.S. Federal Reserve's decision to cut interest rates by half of a percentage point was "a political move." "It really is a political move.

The Fed cut its short term interest rate by 0.50%. How will this affect mortgage rates, auto loans, and credit cards? Does the cut indicate a problem with the economy?

The Federal Reserve has issued its first interest rate cut in four years, kicking off an easing cycle that is already making new mortgages more affordable. Fed policymakers announced the half-point rate cut on Wednesday,

The Federal Reserve kicked off its campaign to lower interest rates with a larger-than-typical half percentage-point cut, while the Bank of England decided against a second consecutive reduction.