On September 14th, US President Trump told reporters he expects the Federal Reserve to announce a “big rate cut” at this week’s meeting. “I think there will be a big rate cut,” Trump said. If that happens, it would be the Fed’s first rate cut since December of last year.

The Federal Reserve will hold its monetary policy meeting on September 16th and 17th, and the market generally expects the Fed to initiate another round of rate cuts. One aspect of the meeting’s outcome is a foregone conclusion: the Fed will almost certainly cut its benchmark interest rate by a quarter percentage point to a range of 4% to 4.25% to lower borrowing costs and boost the sluggish job market. Other decisions remain uncertain, including who will serve on the Fed’s interest rate committee and the outlook for future rate cuts.