NEW YORK —

After nine months of holding its key interest rate steady, the Federal Reserve is expected to announce a rate cut Wednesday. Federal Reserve Chair Jerome Powell and other Fed policymakers have signaled potential rate cuts over concerns about weaker hiring.

The U.S. Labor Department released a revision to its job numbers last week that showed employers added 911,000 fewer jobs than originally reported in the year that ended in March 2025.

The Get the Facts Data Team examined how the Federal Reserve's actions impact the average person.

The Federal Reserve creates monetary policies to stabilize the economy, and one of the ways it does this is by setting the federal funds rate. This is the interest rate banks charge each other for overnight lending.

When the Federal Reserve w

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