The European Union is facing a very different economic situation than the United States, and tariffs play a big role in that.

“We’re closer to the neutral rate, which is another reason to be cautious about further moves,” said Fed Chair Jerome Powell.

Easing monetary policy would make construction and mortgage loans cheaper, potentially lifting a depressed housing market.

Mortgages, savings accounts and credit card debt are a few places. Some rates have already edged down.

While economists agree rate cuts won’t instantly juice an economy, there’s really no consensus on just how long that lag is.

Households expect inflation to be 3% in a year. While that’s not up from the previous month, it’s also not down.

With the Federal Reserve signaling it plans to cut rates up to three times this year, interest payments, and interest charges, are likely to drop.

He says there’s likely to be a rate cut this year, but he won’t say when.