Three prominent Democrats urged Federal Reserve Chair Jerome Powell Monday to cut interest rates by 75 basis points, warning the central bank may have already delayed too long. The central bank is

Inflation across the U.S. continued to recede in August as the rate of price hikes returns to pre-pandemic levels.

Core CPI came in hot in August, and many on Wall Street think rate-cut expectations are too high.

Federal Reserve Gov. Christopher Waller said the central bank should lower its target interest rate now and execute a series of cuts in months ahead.

Key Takeaways Markets on Friday saw a nearly 50/50 chance the Federal Reserve would cut interest rates by half a percentage point at its pivotal policy meeting next week.Former New York Fed President Bill Dudley said at a conference on Friday that signs of a weakening labor market made a "strong case" for a cut of that size.

Wall Street's main indexes closed higher on Friday as investors focused on the possibility of a larger interest rate cut by the Federal Reserve next week. The Russell 2000 small cap index saw significant gains,