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International Business Times
International Business Times
Business
Daniel AVIS

US Fed Set To Make First Rate Cut Since 2020

Federal Reserve chair Jerome Powell indicated in recent weeks that a rate cut was coming in September (Credit: AFP)

The US Federal Reserve is all but certain to cut interest rates on Wednesday for the first time in more than four years, a significant move likely to ripple through global financial markets.

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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