CNBC's Jim Cramer explained why the markets fell after the Federal Reserve announced an interest rate cut and said there will likely be fewer cuts than expected next year. Weak industries like housing and autos are met with rising inflation in food,

Federal Reserve Bank of Chicago President Austan Goolsbee said he adjusted his outlook for interest rates a little higher for 2025 but added he still expects borrowing costs to fall a “fair bit more” over the next 12 to 18 months.

By Michael S. Derby, Ann Saphir (Reuters) -Federal Reserve policymakers, fresh from an interest rate cut this week, on Friday signaled their readiness to take a break from further reductions in borrowing costs next year as they take stock of progress to lower inflation.