OMAHA, N.E.(KELO)- Lower interest rates are on the way…welcome news for anyone who has to borrow money.

That’s the signal from Federal Reserve Board Chairman Jerome Powell.

Higher rates have been the Fed’s main tool to fight inflation.

Creighton University Economist Dr. Ernie Goss says the move to lower rates will help, but there will be challenges.

Goss believes there’s a chance the Fed may cut rates by a half-percent next month.