Fed Cuts Interest Rates Again–What This Means for Your Money

From mortgages to credit cards, borrowing costs could be coming down further in the year ahead.

Federal Reserve Chair Jerome Powell speaks at a news conference following the Federal Open Market Committee meeting in Washington on Oct. 29, 2025. Madalina Kilroy/The Epoch Times

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.