With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves. Even if inflation continued declining to the Fed's 2% target,

The Federal Reserve's interest rate cuts can influence the rates on various loans, but timing big purchases to the Fed’s rate cuts isn’t always easy.

The Federal Reserve cut its policy rate by 25 basis points, following a 50-bp rate cut in September, according to the FOMC meeting minutes.