Scott Horsley

The Fed has cut interest rates by a quarter percentage point at each of its last two meetings, and investors expect another quarter point cut today as the central bank tries to prop up a sagging job market.

Not everyone on the rate-setting committee agrees, however, that another reduction is warranted.

Hawkish committee members are more concerned about stubbornly high inflation and may vote to hold interest rates steady.

The Fed is working with less information than usual since the six-week government shutdown prevented federal workers from collecting data on inflation and unemployment in October.

November's numbers have also been delayed until next week.

Too late to guide Fed policymakers in their decision today.

Scott Horsley in Pear News, Washington.

Investors are fairly confident the central bank will lower its benchmark interest rate by a

They'll also be watching what Fed Chairman Jerome Powell and his colleagues have to say about prospects for additional rate cuts in the new year.

There's considerable uncertainty as the central bank's trying to keep a lid on both inflation and unemployment.

Pepsi is planning to cut jobs and narrow its product lineup by 20 percent as it works to cut costs and lower prices.

The soft drink and snack maker's been under pressure from an activist investor.

Scott Horsley, NPR News, Washington.

The Fed lowered interest rates at each of its last two meetings, but policymakers were divided on whether a third straight cut would be warranted this coming week, inflation still well above the Fed's 2 percent target, which would ordinarily suggest keeping rates higher.

But the central bank's also concerned about a softening job market, which could be cushioned with lower interest rates.

Investors think those job market worries will take priority at this week's meeting, and the rate-setting committee will opt for another quarter-point cut.

But the decision is not likely to be unanimous.

The six-week government shutdown added to the uncertainty by delaying some key economic reports until after this week's meeting.

Scott Horsley, NPR News, Washington.

A consulting firm that tracks layoff notices says U.S.