The most important Federal Reserve decision day is upon us and market participants wait with bated breath regarding what Chairman Jerome Powell and his rate-setting committee team would deliver. Betting market odds suggest a steeper cut is more likely than a shallow one most economists have been factoring in.

Anticipation for a Federal Reserve (Fed) rate cut has hit fever pitch, helping to fuel a big rally for stocks, especially tech, last week.

The Federal Open Market Committee voted Wednesday to lower interest rates by 50 basis points, bringing the federal funds rate down from two-decade highs after more than a year of watching and waiting.

The US Federal Reserve’s interest rate decisions have effects on both the US dollar and gold prices. As the Fed wraps up its two-day policy meeting today (September 18), markets are anticipating a potential rate cut.

It's been over four years since the last interest rate cut, and the central bank is now expected to lower rates again, with a 25 or 50 basis point (bps) cut on the table. A cut in rates would mean lower borrowing costs,