ORLANDO, Fla. – The Federal Reserve began its two-day policy meeting on Tuesday. News 6 Investigator Donovan Myrie spoke with CBS News business analyst Jill Schlesinger about the Federal Reserve’s next move.

What is the Fed expected to do?

“I believe — as do most economists — that the Fed will drop a quarter of a percentage point interest rate cut. That would be the first cut since last December. Although the labor market is weakening, we’ve seen consistent economic growth. A half-percent cut could risk fueling the economy too much. Just this morning, a retail sales report showed robust consumer spending, so a quarter-point cut is what I expect.”

What will this mean for borrowers?

“It’s a little bit of help, a step in the right direction. Interest rates on credit card balances and aut

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