Governor Michelle Bowman explained her dissent from the central bank's decision to cut interest rates by 50 basis points, saying she would have preferred a smaller cut.

A Federal Reserve official predicted quarter point rate cuts if data looked ‘fine’. But he also set out a scenario for a pause — or faster reductions.

The Fed cut its short term interest rate by 0.50%. How will this affect mortgage rates, auto loans, and credit cards? Does the cut indicate a problem with the economy?