The Federal Reserve is anticipated to cut interest rates by a quarter point, marking the final decision before President-elect Trump takes office. This move is part of a recalibration strategy to align rates with current economic conditions, as inflation has decreased significantly from the previous year. The Fed's future actions will be data-dependent, focusing on inflation, growth, and unemployment metrics. This cautious approach is due to uncertainties surrounding the incoming administration's fiscal policies. For consumers, rate cuts generally lead to lower interest rates on credit cards, mortgages, and auto loans, although there may be a delay in these benefits due to current market conditions. Consumers are advised to focus on reducing debt, as savings account yields remain low. Money market funds might offer better returns. The economic overview under President Biden shows strong growth, avoidance of recession, and recovery from the pandemic, although public sentiment hasn't fully reflected these positive indicators due to high inflation and wage adjustments.