Federal Reserve Chair Jerome Powell signaled that the central bank is ready to start cutting rates. With rates coming down, a ripple effect may be felt throughout the broader market, but what does it mean for investor portfolios and savings?

Yahoo Finance Senior Columnist Kerry Hannon joins Wealth! to break down what a rate cut means for Americans and their wallets.

Watch Federal Reserve Chair Jerome Powell's full speech here.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Nicholas Jacobino