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.

Trump attributed the rate reduction to either a "very bad" economy or to the Fed's "playing politics" to help Democrats.

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 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.

A Federal Reserve official predicted quarter point rate cuts if data looked ‘fine’. But he also set out a scenario for a pause — or faster reductions.

Strategas chairman and CEO Jason Trennert reacts to the Federal Reserve slashing rates ahead of the election on 'Maria Bartiromo's Wall Street.'