We concluded that this was the right thing for the economy and the people we serve,” the Federal Reserve chair, Jerome Powell, said, referring to the central bank’s decision to cut interest rates by half a point.

If the Fed cuts interest rates today, borrowers will likely see interest rates ease off their peaks on things like credit cards and auto loans.

The Federal Reserve’s decision Wednesday to lower its key interest rate by half a percentage point brought some clarity to the country’s top financial decision-makers, sending stocks surging to all-time highs and finally quieting the “will they,