The Daily Money: Will the Fed go big or small?

Good morning! It’s Daniel de Visé with your Daily Money.

Big or small?

Will the Federal Reserve lower its key interest rate by a typical quarter percentage point this week, or an outsized half-point?

The difference between the two possible approaches to the first Fed rate cut since 2020 may sound trivial, Paul Davidson reports. After all, Fed officials are expected to launch a flurry of rate reductions now that inflation and job growth are both slowing notably, likely juicing the economy and stocks. As a result, a small decrease could be followed by larger ones in the next few months, or vice versa.

But the Fed’s decision at the end of a two-day meeting Wednesday could move stock and bond markets and reveal whether officials are more concerned about stamping out inflation’s final embers or propping up a labor market that has been cooling a bit too rapidly for most economists’ comfort.

Here's what to expect.

Women are losing ground in DEI fight

Corporate commitments to increase the number of women in the leadership pipeline are slipping amid mounting attacks on diversity, equity and inclusion, Jessica Guynn reports.

Employers surveyed by LeanIn.org and McKinsey & Co. are scaling back programs intended to advance women’s careers. The pullback is deepest for women of color, with companies reporting some of the sharpest declines in programs that boost their career prospects, the survey found.

Bottom line: Too few women − especially women of color − are advancing into management positions. At the current rate of progress, it will take nearly 50 years for women to reach parity in corporate America.

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🍔 Today's Menu 🍔

Boar's Head liverwurst won't be available for purchase or consumption ever again.

The decision to "permanently discontinue" the deli meat was announced Friday, months after the discovery of an ongoing listeria outbreak was tied to a "specific production process" that caused 57 hospitalizations across 18 states, including nine deaths as of late August, USA TODAY reported.

The Centers for Disease Control and Prevention was made aware of the deadly outbreak on July 19, choosing to issue a recall for 207,528 pounds of Boar's Head liverwurst seven days later.

What is it about liverwurst?

About The Daily Money

Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.

Daniel de Visé covers personal finance for USA Today.

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