U.S. President Donald Trump is getting his wish that interest rates drop across the world, just not at home where a strong economy and uncertainty over his own policies have set the stage for the Federal Reserve to diverge from its central bank peers.

It's important to understand that the Fed's decision to pause rate cuts will not directly impact mortgage rates. Mortgage rates are actually driven by a range of factors, including the Fed's rate changes. This week's Fed rate decision does, however, have a big influence on where mortgage rates could head.

Here's a quick primer on interest rates and what today's Fed decision could mean for your money. Read more: Trump Can't Lower Interest Rates. But What Power Does the President Hav

Global shares rose as investors digested earnings from Microsoft and Meta in the wake of this week's rout in technology stocks, while the dollar was steady against most other currencies after the Federal Reserve left rates unchanged.

The Fed has a dual mandate. In addition to stable prices, the central bank is supposed to support maximum employment. With the labor market in "solid" shape, the FOMC has become m