The Federal Open Market Committee's decision to cut interest rates a quarter-percent was widely expected, but what's less clear is what Fed Chair Jerome Powell will say at his press conference today at 2:30 p.

All 12 Fed voters backed the cut.Officials have said those moves are warranted because they are more confident that inflation will return to the central bank’s target and because they believe rates are still high enough,

The Fed is expected to cut rates on Thursday and possibly again in December. What can savers and borrowers expect?