Expectations are high for the US Federal Reserve to deliver the year’s second interest rate cut on Wednesday as members conclude a hotly-anticipated policy meeting in Washington. With the meeting underway, central bank officials on Tuesday also moved for the first time in a decade to prevent market fluctuations from pushing short-term interest rates beyond the Fed’s control. US Federal Reserve Chairman Jerome Powell has sent strong signals in recent weeks that a rate cut is coming, vowing that policymakers stand ready to “act as appropriate” amid “significant risks” to the economy — notably President Donald Trump’s trade wars.
