The Federal Reserve handed down a large interest rate cut this week, dialing back the central bank's fight against inflation and signaling welcome relief for borrowers. It remains to be seen, however,

The Federal Reserve announced an interest rate policy decision to cut interest rates by 0.5% on September 18. This decision was accompanied by FOMC member forecasts.

It’s a pivotal week for the US economy, with the Federal Reserve expected to cut interest rates for the first time since 2020. The move would mark a major milestone both for the central bank’s long fight with inflation and for Americans battling a higher cost of living for the past two years.