Federal Reserve leaders are unified in their resolve to quash the worst bout of inflation in four decades. They just no longer agree on how high to keep U.S. interest rates to achieve their goal.

The Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday, delivering relief for borrowers at the central bank's last meeting before President-elect Donald Trump takes office next month.

The Federal Reserve cut interest rates by a quarter point, its third reduction this year, but suggested only two more reductions next year as inflation lingers.