It's bed day.
but a bit of an unusual one as the government shutdown leaves officials without their typical data,
plus why white collar jobs in the U.S. are vanishing.
And America leads with the most billionaires worldwide, but no one is safe.
The thing is that if you have a billion or two billion next year,
you might not have a billion at all.
It's Wednesday, October 29th.
I'm Caitlin McCabe for The Wall Street Journal, and here is the AM edition of What's New.
news.
The top headlines and business stories moving your world today.
All eyes are on the Federal Reserve today, which will announce its latest policy decision at 2 p.m.
Eastern.
Investors widely expect the central bank to cut rates by a quarter percentage point,
lowering the target range for the federal funds rate to 3.75% to 4%.
The journal's chief economics correspondent, Nick Timmeros,
joins me now to discuss what we might expect from today's meeting.
Thanks for being here.
We mentioned that a rate cut today seems widely expected.
Can you walk us through what the Fed is weighing as it makes this decision today?
The big question really for this meeting is where does it leave everybody on the rate setting committee in thinking about another interest rate cut in December?