How much Fed cuts will impact mortgage, credit card and auto interest rates

The Federal Reserve cut its target interest rate this week, but it might not solve the borrowing woes plaguing Americans. Why it matters: Between a gloomy job market and rising inflation , Americans are looking for relief wherever they can — but even though the Fed has cut rates for the first time this year, it may not change much in terms of credit card and mortgage rates. Driving the news: The Fed's policy panel, the Federal Open Market Committee, on Wednesday lowered the federal funds rate by a quarter...