Rolf Lundholm

It was the Fed's third rate cut since September, but policymakers said they may lower rates only two more times next year. That was fewer than the four cuts it had projected three months ago. Inflation is a little more stubborn than expected, and policies, as well as the health of the economy, could change after Donald Trump returns to the White House.

It was the Fed's third rate cut since September, but policymakers said they may lower rates only two more times next year. That was fewer than the four cuts it had projected three months ago. Inflation is a little more stubborn than expected, and policies, as well as the health of the economy, could change after Donald Trump returns to the White House.

So Fed Chair Jerome Powell said the caution was justified.

So Fed Chair Jerome Powell said the caution was justified.

Investors were disappointed. Along with the blue-chip Dow, the S&P and the Nasdaq also slumped. Rafael Num, NPR News.

Investors were disappointed. Along with the blue-chip Dow, the S&P and the Nasdaq also slumped. Rafael Num, NPR News.