Soft landing? R-star? Restrictive monetary policy? All these terms used by the Federal Reserve are enough to give anyone a headache. But don’t be fooled: They matter to you and your money every day.

Consumers and businesses alike can expect lower borrowing costs, but rates on both loans and savings accounts have already moved down in anticipation.

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.