Kansas City Federal Reserve Bank President Jeffrey Schmid on Wednesday said the U.S. central bank's interest-rate cuts to date acknowledge its growing confidence that inflation is headed down, but gave no steer on how many more rate cuts he feels may be appropriate.

Find out how the Federal Reserve’s decision will impact all aspects of borrowing and spending

U.S. inflation rose 2.6% on an annual basis last month, representing an uptick from September when the Federal Reserve began cutting interest rates amid signs of cooling prices and a weaker labor market.

The Federal Reserve cut its key interest rate by a quarter-point in response to a steady decline in once-high inflation that angered Americans and helped drive Trump’s election victory.

Following the Fed's 0.5% rate cut in September, mortgage rates went up, not down. Even though the central bank's policy decisions and economic outlook affect credit markets, the F

Jason Furman, former chairman of the Council of Economic Advisers, says he expects the Federal Reserve to cut rates again in December, but after that, the pace of cutting will slow down. He's on "." (

The Federal Reserve has made two consecutive interest rate cuts but potential homebuyers are wondering when mortgage rates will drop. CBS News MoneyWatch correspondent Kelly O'Grady breaks down what this means.