The Fed lifted interest rates to a 23-year high throughout 2022 and 2023 to combat rapid, post-pandemic inflation. Then, a downturn in hiring in 2024 prompted them to cut interest rates a full percentage point. Officials spent much of 2025 on the sidelines, but they returned to cutting interest rates at their September and October meetings. They’re widely expected to lower borrowing costs for a third time in December.But the Fed’s decisions have other knock-on effects. For starters, cheaper borrowing costs ...