As common as rate changes are in election years, brand new rate-reduction cycles - a series of cuts that follow either one or more recent rate increases or a pause of rate changes of at least five months - are less frequently begun on the doorstep of an election.

The Federal Reserve cut interest rates by half a point today. The Nation national affairs correspondent John Nichols and Director of Polling at the Harvard Kennedy School Institute of Politics John Della Volpe join Katy Tur to share their analysis.

Interest rates are expected to drop for the first time in four years this week, but don’t expect that to be life-changing, experts said. When the Federal Reserve concludes its policy meeting Wednesday,