It meets July 29-30 to vote whether to cut interest rates for the first time this year. Many economists and market analysts expect the FOMC to hold interest rates steady. But expectations are growing that the next rate cut will come sooner than later.

A federal judge on Monday denied a request by a Donald Trump ally to force the Federal Reserve committee responsible for directing US monetary policy to make its meetings publicly accessible and accused an investment firm of wasting the court’s time.

Local banks say businesses are still taking out loans, despite elevated interest rates. In some cases, that's because they don't want to wait for rates to fall.

Even while the Fed left its benchmark rate unchanged, many consumer rates have fluctuated over the first half of the year.

Oil prices were steady on Tuesday amid uncertainty about the global economic outlook following the U.S.-EU trade deal, and as investors awaited the U.S. Federal Reserve's interest rate decision.

The Agency founder and CEO Mauricio Umansky discusses record home prices in the United States and why the Federal Reserve should cut interest rates on ‘America Reports.’

The Federal Open Market Committee will meet on Tuesday and Wednesday before announcing the federal-funds rate target range, which has sat at 4.25% to 4.5% since December. The decision will go public at 2 p.m. Eastern time on Wednesday, and Fed Chair Jerome Powell will address the media at 2:30 p.m.

The stock market is at record highs as investors brace for what's expected to be the busiest week of the summer on Wall Street.