Feds consider possible rate cuts

(CNN)– The Federal Reserve is widely expected to hold interest rates steady at its two-day meeting that wraps up on Wednesday, July 31.

Fed officials have signaled that they’ll begin to lower interest rates in September.

The fed raised interest rates to their highest level in more than two decades.

It was done to slow part of the economy and get inflation back down to the central bank’s 2% target after it soared at a 40 year high in 2022.

Inflation still remains above the target, but it has been easing.