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Find out how the Federal Reserve’s interest rate cut could affect your retirement savings, investments, and mortgage payments.

Plus the week included a stop in Detroit by Lael Brainard, the director of the National Economic Council, who spoke to the Detroit Economic Club.

Federal Reserve Chair Jerome Powell on Monday said the U.S. economy is in "solid shape" and that more interest rate cuts can continue if the economy continues to evolve as expected.

Friday’s job market figures in the US were very strong, suggesting that in fact there was no need for a large rate cut. This is the kind of macro climate we have seen in the mid and late 1990’s.

That's not so far off from the Fed's preferred 2% target. In light of that, the Fed lowered its benchmark interest rate on September 18 by half a percentage point. And it's a move consumers will likely be celebrating in the coming weeks and months.