Oct. 29 (UPI) -- The U.S. Federal Reserve is expected to meet Wednesday to make a decision on whether to cut interest rates.
Experts expect the Federal Open Market Committee, the policy-making arm of the Fed, to lower interest rates for a second time since September to boost a weakening job market and limit inflation, according to ABC News.
In its September statement, the FOMC predicted it would lower benchmark interest rates through two quarter-point cuts by the end of the year. President Donald Trump, however, has called for cuts up to 3%.
"Concerns about tariffs driving prices higher are still not showing up in most categories," Scott Helfstein, Global X's head of investment strategy, told CBS News on Friday. "Nothing in the inflation print should stop the Fed from cutting rates next week. Yes, prices are higher, but not enough to keep them from helping the economy."
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