The Federal Reserve lowers interest rates again -- but hints at fewer cuts next year

The Fed lowered interest rates by a quarter percentage point — but stocks slumped after policymakers projected fewer rate cuts next year as inflation remains elevated.

The Federal Reserve lowers interest rates again -- but hints at fewer cuts next year
Federal Reserve Chair Jerome Powell and his colleagues lowered their benchmark interest rate Wednesday by a quarter percentage point. That will make it cheaper to get a car loan, finance a business or carry a balance on your credit card.

The Fed lowered interest rates by a quarter percentage point — but stocks slumped after policymakers projected fewer rate cuts next year as inflation remains elevated.

(Image credit: Andrew Caballero-Reynolds)