The Fed is expected to announce its latest interest-rate decision, with Wall Street anticipating a boost in the stock market from a possible rate cut. Traders foresee the S&P 500 moving about 0.6% post-Fed meeting, with a 94% chance of a 25 basis point cut. Markets may react differently based on the size of the cut.

Stocks reached record highs prior to the meeting on the expectation of lower borrowing costs and strong corporate earnings. Major indexes were mixed in intraday trading Wednesday, with the Dow rising while the S&P 500 and Nasdaq traded lower. The rate decision will be accompanied by the Summary of Economic Projections from the FOMC.

White House economic advisor Stephen Miran, a newly appointed FOMC member, is expected to push for a larger rate cut desired by President Trump. Users on predictions market Polymarket can bet on various outcomes related to Fed Chair Jerome Powell’s language during the press conference and the number of dissenting FOMC members.

Read more at Yahoo Finance: What the Fed’s Rate Call Could Mean for the Stock Market