The Federal Reserve reduced interest rates for the second time this year, lowering them by a quarter point to a range of 3.75% to 4%, according to CNBC . This decision affects everyday borrowing costs like mortgages , car loans, and credit cards for American families. However, Fed Chair Jerome Powell surprised markets by saying another rate cut in December is not guaranteed.

Two officials disagreed with the decision, with one wanting a bigger cut and another preferring no cut at all. The committee voted 10-2 in favor of the reduction. Additionally, the Fed announced it would stop reducing its bond holdings starting Monday, Dec. 1, a process called quantitative tightening, as reported by CNBC. Powell noted there is growing support among Fed officials to wait before making furth

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