The US Federal Reserve is expected to cut interest rates for the first time in over four years on Wednesday. This anticipated move, driven by inflation reaching 2% and a cooling labor market, follows 14 months of holding rates at a two-decade high.

If the US Fed goes for an interest rate cut this time, it would be the first time in more than four years. The Fed had previously slashed the rate in 2020 to near-zero in order to support the US economy through the Covid-19 pandemic.

The Federal Reserve’s FOMC will meet this week to discuss interest rate changes as the rate of inflation continues to fall.