Federal Reserve expected to lower interest rates [Video]

The Federal Reserve is expected to make it cheaper to borrow money Wednesday as central bankers prepare to wrap up their final meeting of the year.The Fed has been raising rates to force down inflation, though price growth has hovered closer to 3% since last year. The number is down from a more than 7% peak a few years ago but higher than the Fed’s 2% inflation goal.In an attempt to bring down inflation further, federal regulators are likely to continue lowering interest rates that have been at their highest level in decades. That means smaller and fewer rate cuts in 2025 as long as the job market remains steady and unemployment low.In the meantime, it will be more expensive to borrow money to buy a house, car, or carry a credit card balance.President-elect Donald Trump’s economic policies could also pose an impact to inflation. A joint House and Senate …