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Federal Reserve is set to cut key rate but consumers might not feel much benefit anytime soon

FILE - Comments by Federal Reserve Chair Jerome Powell appear on a bank of screens on the floor of the New York Stock Exchange, Nov. 7, 2024, in New York. (AP Photo/Richard Drew, File)

FILE - Comments by Federal Reserve Chair Jerome Powell appear on a bank of screens on the floor of the New York Stock Exchange, Nov. 7, 2024, in New York. (AP Photo/Richard Drew, File)

File - Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Nov. 7, 2024. (AP Photo/Mark Schiefelbein, File)

File - Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Nov. 7, 2024. (AP Photo/Mark Schiefelbein, File)