Inflation has been stubbornly hanging around 2.8% for months. That’s above the Federal Reserve's 2% target. Meanwhile, key areas of the labor market are showing signs of weakness.

The Federal Reserve just cut interest rates by a quarter of a percentage point. While that should affect rates throughout the economy, some lenders report that not much has changed.

But their success will also depend on the overall health of the U.S. economy.

The European Union is facing a very different economic situation than the United States, and tariffs play a big role in that.

“We’re closer to the neutral rate, which is another reason to be cautious about further moves,” said Fed Chair Jerome Powell.

Easing monetary policy would make construction and mortgage loans cheaper, potentially lifting a depressed housing market.

Mortgages, savings accounts and credit card debt are a few places. Some rates have already edged down.

While economists agree rate cuts won’t instantly juice an economy, there’s really no consensus on just how long that lag is.

Households expect inflation to be 3% in a year. While that’s not up from the previous month, it’s also not down.

With the Federal Reserve signaling it plans to cut rates up to three times this year, interest payments, and interest charges, are likely to drop.