What does the latest interest cut mean for your wallet?

Federal Reserve Cuts Interest Rate by Half Percentage Point 

The Federal Reserve cut its interest rate by a half percentage point on Wednesday, which means mortgage, credit and auto loan borrowing costs should soon lower.Od Hello Sticker

This is good news as credit card rates are currently at around 20%, near an all-time high.

The federal funds rate is now at 4.75 to 5%.