US Fed Meeting: Tracking The Fed's Rate Cuts Since Lehman Crisis| Infographic

Catch all the latest updates from the FOMC meet on our US Fed Meeting Live Blog here.

The US Federal Reserve, headed by Jerome Powell, is set to make a pivotal move this week, possibly cutting interest rates for the first time in over four years. With inflation appearing to be under control and signs of a weakening labour market, it is widely anticipated that officials will lower their key interest rate by at least 25 basis points at the conclusion of their two-day meeting on Wednesday.

This decision marks a significant turning point, offering relief to the world’s largest economy after an extended period of high borrowing costs.

Here's how the Federal Reserve works:

• The Federal Reserve is the US central bank. 

• It raises interest rates when inflation is high to cool down an overheating economy and cuts rates when the economy is weak to encourage growth and reduce unemployment. 

• The Federal Open Market Committee meets eight times a year to set policies that balance inflation and economic growth.