The Globe and Mail reports in its Monday, Nov. 4, edition that with inflation continuing to cool, the U.S. Federal Reserve is set to cut interest rates on Thursday for a second time this year. The Globe's Christopher Rugaber writes that the Fed's future actions will become more uncertain once a new president and Congress take office in January, especially if Donald Trump were to win the White House again. Mr. Trump's plans for high tariffs on imports, mass deportations of unauthorized immigrants and interference with the Fed's rate decisions could lead to higher inflation, which may force the Fed to halt its rate cuts. On Thursday, Fed policy-makers are expected to cut their benchmark rate by a quarter point, to about 4.6 per cent. Economists anticipate a quarter-point rate cut in December, with possible cuts next year. Typically, rate cuts reduce borrowing costs for consumers and businesses. The Fed, however, is cutting rates for an unusual reason: typically, it does so to stimulate a weak economy. However, the economy is growing fast, and the unemployment rate is low at 4.1 per cent. Instead, the Fed is lowering rates as part of what chairman Jerome Powell has called "a recalibration" to a lower-inflation environment.