If the Fed cuts interest rates today, borrowers will likely see interest rates ease off their peaks on things like credit cards and auto loans.

The Federal Reserve on Wednesday almost certainly will lower interest rates for the first time in more than four years as the U.S. central bank starts to reverse the restrictive conditions it imposed to beat back inflation,

The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.