Short-term U.S. interest rates are likely to be lower on Inauguration Day in 2025 than they are on Election Day, and that means the U.S. Federal Reserve almost certainly will continue to cut the benchmark federal funds rate — not just this week but at its December meeting as well.

Here Are the Winners and Losers The Federal Reserve met Nov. 7 and cut interest rates by 25 basis points (0.25 percentage point). This move was in line with previous Fed announcements and was widely expected.

The Fed is expected to cut rates for a second straight month but by a smaller amount. How and when consumers may feel the effects isn't as clear.