No one knows how Tuesday's presidential election will turn out, but the Federal Reserve's move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year.

The Federal Reserve cut its key rate by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election vi

The interest rate cut follows a larger half-point reduction in September, and it reflects the Federal Reserve's continued focus on supporting the job market and battling inflation.