It’s a pivotal week for the US economy, with the Federal Reserve expected to cut interest rates for the first time since 2020. The move would mark a major milestone both for the central bank’s long fight with inflation and for Americans battling a higher cost of living for the past two years.

The Federal Reserve began what will likely be a campaign of interest rate cuts Wednesday by cutting its influential federal funds rate by half a percentage point. The central bank has made similar moves in the past.

The Federal Reserve announced an interest-rate cut of 50 basis points on Wednesday, the first in four years after aggressive inflation fighting.