The central bank has now shaved a full percentage off its benchmark rate since September. Here's what it means for your borrowing costs.

The Federal Reserve's policymakers announced that they will cut the benchmark federal funds rate by a quarter point in December, marking the central bank's third straight cut.

The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.

The Federal Reserve announced another interest rate cut, reducing its benchmark rate by .25 percentage points. CBS News business analyst Jill Schlesinger has more on the move.

The Federal Reserve lowered interest rates once again ... The Fed originally went on an interest rate rising spree in an effort to curb inflation, which peaked at 9.1 percent in 2022.

Americans hoping for lower borrowing costs for homes, credit cards and cars may be disappointed after this week’s Federal Reserve meeting.

Inflation remains stubbornly above the Federal Reserve’s 2 percent target. Yet, instead of maintaining a firm stance at its December 18 meeting, the Fed cut interest rates for ... the inflation data show an inflation rate that remains high and will ...

NEW YORK — The Federal Reserve’s third interest rate cut of the year will likely have consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and ...

The Federal Reserve cut interest rates by 0.25% on December 18, but an interest rate cut is unlikely when the Fed issues its next policy decision on January 29.

In remarks at a postmeeting press conference on Wednesday, Fed Chair Jerome Powell said that policymakers are now equally attuned to risks from both sides of the mandate, and would proceed cautiously with future rate cuts to avoid reigniting rapid inflation.

The impact of interest rate reductions will help small and mid-sized banks, which had big exposure in commercial real estate because their portfolios were at fixed rates. As interest rates come down, the market values of the portfolios will improve, which provides relief for them, since they have suffered a lot over the past two years.