Wall Street subdued as investors await Fed decision

Wall Street subdued as investors await Fed decision

Wall Street’s main indexes are flat as investors step to the sidelines ahead of the Federal Reserve’s highly anticipated first interest rate cut in more than four years, with bets favouring a 50-basis-point reduction.

Borrowing costs have stayed at their highest levels in more than two decades since July 2023, when the US central bank last hiked interest rates by 25 basis points to between 5.25 per cent and 5.50 per cent to combat inflation.

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