Following its third cut this year, Fed signals fewer reductions in 2025
Economists now expect only two or three Fed rate cuts in 2025
Political clashes might be inevitable in the next four years
President-elect Trump has made numerous public criticisms of the Fed, Powell
Price pressures prove stubborn, a sign that inflation's steady decline over the past two years has stalled in recent months
Consumer prices rose 2.6% from a year earlier, up from 2.4% in September
Rate cut follows larger half-point reduction in September
Prices rose just 2.1% in September from a year earlier, down from a 2.3% rise in August
Job growth was held down in October by hurricanes and worker strikes
Federal Reserve research suggests consumer spending is the primary driver of the U.S. economy