(FILES) US Federal Reserve chairman Jerome Powell holds a press conference in Washington, DC, on September 18, 2024. The US Federal Reserve is widely expected to cut interest rates by a quarter point on November 7, looking beyond the election results to continue easing borrowing costs on the back of cooling inflation. The US central bank sits just a short walk from the White House, where Democratic President Joe Biden will soon make way for Donald Trump, who takes office once again in January. (Photo by Mandel NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)