WASHINGTON — The Federal Reserve is gearing up to announce its first interest rate cut for more than four years on Wednesday, US time, with policymakers expected to debate how big a move to make less than two months before the US presidential election.
Senior officials at the US central bank including Fed chair Jerome Powell have in recent weeks indicated that a rate cut is coming this month, as inflation eases toward the bank’s long-term target of two percent, and the labor market continues to cool.
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