US Federal Reserve Chairman Jerome Powell speaks at a press conference after the Monetary Policy Committee meeting in Washington, DC, on December 18, 2024. The US Federal Reserve cut interest rates by a quarter point December 18 and signaled a slower pace of cuts ahead, amid uncertainty about inflation and US President-elect Donald Trump's economic plans. Policymakers voted 11-to-1 to lower the central bank's key lending rate to between 4.25 percent and 4.50 percent, the Fed announced in a statement. They also penciled in just two quarter-point rate cuts for next year, and sharply hiked their inflation outlook for 2025. (Photo by Andrew CABALLERO-REYNOLDS / AFP) / ALTERNATE CROP (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)