Video: What do Fed rate cuts mean for me?

The Federal Reserve raises and lowers rates to balance full employment and price stability for the U.S. economy. With the first rate cut in more than two years, U.S. consumers are anxious to see how those cuts will affect their pocketbook, especially those paying high interest rates on debt, but experts say the Fed is likely to take a cautious approach.

For more detail on the latest Fed decision, read more.