Welcome to the Jill on Money Podcast. It's a little Friday Extra episode. Today I'm talking

about the great much anticipated Federal Reserve decision to cut interest rates for the first time in more than a decade.

Here's my segment from CBS this morning.

The cost of borrowing is coming down.

For the first time since the 2008 financial crisis,

the Federal Reserve cut interest rates.

The Central Bank lowered the benchmark federal funds rate

by a quarter percentage point just yesterday.

The decision could make it easier for consumers to borrow money on everything from credit cards

to car loans.

CBS News, business analyst Jill Schlesinger is here with a look at the Fed's decision

and what it means for your wallet. I'm a little confused because the economy

is supposed to be doing well and yet we have the Federal Reserve cutting interest

rates. Why? Well the Fed says that global growth is starting to impact US growth.

Things are slowing down.

So you're right.

Even the central bankers are saying, things are good, they're not great.

They're concerned about that deceleration and one of the things they noted as a

rationale for cutting rates the trade uncertainties which is really crimping growth. I think that's a big

issue and finally they're worried that prices are not rising fast enough.

It may seem a little bit weird to imagine this.

The Fed wants a little bit of inflation, but not too much inflation.

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