New Delhi, Sept. 15 -- After holding the interest rate steady for five consecutive meetings over the past nine months, the Federal Reserve is widely expected to announce a quarter-point rate cut following its two-day September meeting.

The central bank's decision, to be announced on Wednesday, September 17, comes amid a sharp deterioration in US economic data, particularly in the labor market, which is raising expectations that the Fed will reduce its benchmark interest rate by a quarter point.

The central bank has been holding interest rates steady despite continued pressure from President Donald Trump, as it adopts a wait-and-watch approach to assess how higher tariffs could impact the economy, which appears to be showing signs of str...