Federal Reserve Reveals Plans For Future Rate Cuts

The Federal Reserve cut its key interest rate by a quarter-point — marking its third cut this year — but also signaled that it expects to reduce rates more slowly next year than it previously envisioned, mostly because of inflation.
The Fed’s 19 policymakers projected that they will cut the rate by a quarter-point just twice in 2025, down from their estimate in September of four rate cuts. This means that people may not have lower rates next year for mortgages, auto loans, credit cards and other forms of borrowing.