The Federal Reserve's anticipated rate cut in September has sparked investor enthusiasm, but recent inflation data adds complexity to the outlook. While consumer inflation appeared moderate, producer prices surged unexpectedly,

Fed cuts would immediately make borrowing cheaper on credit cards and auto loans, since those products are based on the short-term interest rates the central bank heavily influences. Mortgages are a different story,

A top official at the Federal Reserve is saying that this month's stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower.