President Donald Trump's efforts to cut interest rates have been unsuccessful so far. He believes low rates would boost the economy and make borrowing more affordable. Trump has been pushing the Federal Reserve to reduce its benchmark rates, which he thinks would fuel growth.

The opposite has been happening, with borrowing becoming more expensive since the end of February. This change affects not only families trying to afford mortgages or auto loans but also the government, which has spent a significant amount on debt service this fiscal year. Further details on the situation and its implications are available from KSAT 12, the local ABC affiliate.