The Federal Open Market Committee (FOMC) is meeting this week to discuss the economy and potentially adjust the federal funds rate. The next meeting is on Dec. 9-10, the final scheduled meeting of the year. Policy decisions will be released at 2 p.m. Eastern time, followed by a news conference at 2:30 p.m.

The Fed is expected to cut the federal funds rate for the third time this year, with a 90% chance predicted. The Fed stated that economic activity has been expanding moderately, with job gains slowing and inflation somewhat elevated. It’s uncertain when and by how much the Fed will make cuts.

Consider locking in high rates with CDs and refinancing fixed-rate loans strategically as the Fed may cut rates again. Time large expenses strategically based on interest rate trends. Setting aside savings in a sinking fund can help you put more money down on a purchase. Be prepared for potential rate cuts.

Read more at Yahoo Finance: What time is the Fed meeting?