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. But with inflation pressures still elevated and with concern that President-elect Donald Trump's policies could fuel inflation,

In the argot of investors, inflation in America is back to having a “two-handle” (that is, running above 2% but below 3%). It is a far better position to be in than a couple of years ago, when price rises were threatening to hit double digits.