With the Federal Reserve cutting interest rates on Wednesday, what does that mean for you? News On 6's Dave Davis spoke with Clint Dishman from BOK Financial to answer that question.

"Yeah, they cut rates by 25 basis points, and it's the first rate change in nine months. So it is a change from being a more restrictive monetary policy to more accommodated. And I think they're trying to move towards a more neutral rate to ensure that both of their mandates—full employment and stable prices—are in check."

"Yeah, the federal funds is tied to a lot of different lending rates. So your prime rate is affected by that. The prime rate yesterday was 8.25. They cut it by 25 basis points, so you're seeing a decrease today to 8%. That sets rates for credit cards, adjustable-rate loans, lines of credit

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