The Fed is expected to cut key interest rate to boost weak U.S. job market

Core Viewpoint - The Federal Reserve is expected to cut its key interest rate on Wednesday, potentially signaling another cut in December to support hiring and stimulate the economy [1] Interest Rate Cuts - A rate cut on Wednesday would mark the second reduction this year, aimed at lowering borrowing costs for consumers, particularly for mortgages and auto loans [1] - The average 30-year mortgage rate has decreased from 6.6% to approximately 6.2% since Fed chair Jerome Powell indicated potential rate cuts in late August, which may help the sluggish housing market [1] Economic Context - The Federal Reserve is navigating an unusual economic period, making future moves more difficult to predict than usual [1]