The Federal Reserve might hold off on a December interest rate cut, but consecutive reductions could still affect your money.
Officials voted 10–2 on Oct. 29 to lower the benchmark federal funds rate—a policy rate that influences borrowing costs for businesses and consumers—by a quarter point.
The decision brought the new target range of 3.75 percent to 4 percent.
While the futures market has been widely penciling in a third straight cut in December, Fed Chair Jerome Powell says it might not be guaranteed.
“There were strongly different views about how to proceed in December,” Powell told reporters at the post-meeting press conference….