News

Business

On HALO

3 months ago

Fed expected to deliver third straight rate cut this week amid labor concerns

Federal Reserve policymakers are expected to cut interest rates at this week's meeting despite inflation remaining above their target amid concerns about a softening labor market.The Federal Open Market Committee (FOMC), the central bank's monetary policy-setting committee, will announce its interest rate decision on Wednesday. Markets widely expect a 25-basis-point interest rate cut, which would mark the third straight meeting with a rate cut – though expectations have shifted over time.Minutes from the FOMC's last meeting showed deep divides among policymakers over whether a rate cut would b...