Federal Reserve likely to cut key interest rate: What to know

The Federal Reserve will almost certainly cut its key interest rate on Wednesday and could signal it expects another cut in December as the central bank seeks to invigorate the job market.

Here’s what to know about the Fed’s meeting on Wednesday:

Federal Reserve rate cut

Big picture view:

The Fed’s next meeting is happening Wednesday, Oct. 29, and is likely to end with another cut to the key interest rate, which would be the second cut of the year, with a third projected to come in December.

By the numbers:

The current rate is at 4.1%, and the Fed is widely expected to reduce it to about 3.9% Wednesday.

Why you should care:

A key rate cut could benefit consumers by bringing down borrowing costs for mortgages and auto loans.

For example:

Since Fed chair Jerome Powell strongly sign