Federal Reserve leaders are unified in their resolve to quash the worst bout of inflation in four decades. They just no longer agree on how high to keep U.S. interest rates to achieve their goal.

The effects of the Fed’s half-point rate cut in September and its quarter-point cut in November have largely been passed through to auto loans, which fell on average from a peak of 7.3% in July to 6.8% last month, said Ivan Drury, director of insights for Edmunds.com.

The Federal Reserve cut interest rates by a quarter point, its third reduction this year, but suggested only two more reductions next year as inflation lingers.

Interest rate cuts — or a lack thereof — could prove disappointing to real estate next year, though. In its post-meeting report, the Fed hinted that there may only be two cuts next year, below the four the Fed projected in September and the three projected by economists in a recent Bloomberg survey.

The Federal Reserve on Wednesday made another cut in interest rates, but dialed back expectations for lowering rates in the near future.

The Fed's December rate decision reflects growing confidence in the economy's trajectory and the continued moderation of inflation pressures, despite an uptick in the inflation rate over the last few months.

The Federal Reserve cut interest rates for the third time this year on Wednesday, by a quarter of a percentage point. The Federal Open Market Committee moved ahead with a rate cut as expected. The latest decision means the target range for the federal-funds rate is now 4.

The Federal Reserve’s third interest rate cut of the year will likely have consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses

These are today's mortgage and refinance rates. Mortgage rates might not drop as much next year if the Fed only lowers rates a couple of times.