The Federal Reserve has cut interest rates by 50 basis points, but what does this mean for the economy and how does this affect spending power? Managing director Jason Haswell says that the Fed’s job is to make sure inflation is under control and that the labor market and economy are going

If you’ve been anxiously awaiting financial relief from the Federal Reserve, you are about to get a rude awakening.

The Federal Reserve is slated to cut interest rates in its meeting Wednesday. Follow along for live updates on the Fed interest rate decision.

The Federal Reserve said Wednesday it was lowering its interest rate by 0.5%, an unusually aggressive move that some may see as the central bank expressing concern about underlying weakness in the economy.

The Federal Reserve said Wednesday it was lowering its key interest rate by half a percentage point, an unusually aggressive move designed to cushion the economy from a further slowdown.

The Fed is expected to start cutting interest rates on Wednesday — marking a milestone in the central bank's long-running battle against inflation.