The Federal Reserve is expected to announce its first interest rate cut of the year on Sept. 17, potentially leading to a series of reductions that would benefit businesses and consumers. Economists predict a quarter percentage point cut, with one or two more expected in 2025. President Trump’s influence over the central bank raises concerns about its independence. The decision comes after months of pressure from Trump for aggressive rate cuts, leading to changes in the Fed’s board of governors. Trump has urged Fed Chair Powell to make larger rate cuts to stimulate economic growth. The Fed’s rate decision will be revealed at 2 p.m. Eastern Time, with updates to follow. The benchmark federal funds rate has remained unchanged since December. The Fed adjusts interest rates to maintain stable prices and employment levels, with rate changes impacting borrowing costs and economic activity.

Read more at Yahoo Finance: The Fed’s interest rate decision and what it means for you: live updates