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

In remarks at a postmeeting press conference on Wednesday, Fed Chair Jerome Powell said that policymakers are now equally attuned to risks from both sides of the mandate, and would proceed cautiously with future rate cuts to avoid reigniting rapid inflation.

Fed fund futures show the market believes the chance that the Fed won't cut interest rates at all next year have climbed after Wednesday's meeting.