BREAKING: Fed planning big cut to interest rates

The Federal Reserve is expected to announce its first interest rate cut in more than four years. LiveNOW from FOX s Mike Pache caught up with University of Pennsylvania s Christina Skinner to discuss what you can expect. The Federal Reserve is set to cut its benchmark for the first time in four years. Chair Jerome Powell said Fed officials feel confident that inflation has largely been defeated. Powell said, we will do everything we can to support a strong labor market. He added that any further weakening in the job market would be unwelcome. Subscribe to LiveNOW from FOX Where to watch LiveNOW from FOX: Follow us LiveNOWFOX on Twitter: Raw and unfiltered. Watch a nonstop stream of breaking news, live events and stories across the nation. Limited commentary. No opinion. Experience LiveNOW from FOX.