The Latest Breaking News from Jerome Powell

The central bank’s widely-expected 0.25% cut comes amid a cooling labour market, which has stalled economic growth.

The rate cut comes as Trump stages an unprecedented assault on independence of the Federal Reserve

Stephen Miran, Trump’s pick to join the Fed, dissented against the group, voting in favor of the stronger half-point cut.

Rates now stand at a range of 4% to 4.25% as reduction comes amid concern of political pressure on independent central bank from Trump

Traders are largely expecting the Fed’s Federal Open Market Committee to lower the Fed funds rate trading range by 25 basis points.

The Federal Reserve is widely expected to lower interest rates by 25 basis points later on Wednesday, bringing the federal funds target to 4.00%-4.25%—a policy shift that, while highly anticipated, may offer little fuel to a stock market already trading at all-time highs if history is any guide.

The dollar has put in such a feeble performance this year that it has begun to hurt foreign investors in U.S. assets.

Editor’s Note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.

With the Federal Reserve widely expected to reduce its key interest rate by a quarter-point to about 4.1%, economists and Wall Street investors will be looking Wednesday for signs of how deeply the Fed might cut rates in the next few months

Also: All the news and watercooler chat from Fortune.

The Fed is widely expected to cut rates this month, which could increase the appeal of dividend stocks. Here are three dividend stocks to consider ahead of the Fed meeting.