Using a 1/2" rubber hose in a compressor with 1/4" air outlet?

Thanks to those who answered my previous threads. This final query would do the trick:

I've decided to go and use 1/2in rubber hoses for my compressor since it delivers 140psi. I understand that these hoses come with 3/8" fittings

My impact tool has an inlet connection size of 1/2" and my compressor's air outlet measures 1/4".

Is it ok to plug in a 1/2" diameter hose to a 1/4" air outlet and what kind of coupler do I need? Will this have an effect on pressure output?

Since the hose fitting is 3/8in (9.5mm), how do I connect it to my impact tool which has an inlet size of 1/2". I am going to use a 1/4" NPT quick-connect coupler (Going to Federal tom morning)

Note: I found in my basement a converter from 3/8 in to 1/4", can I use this on my hose to connect to my compressor?