Welcome to Business Today live from new york. Shares are inching higher on Wall Street ahead of the most closely watched meeting of the Us Federal Reserve in years. In just underfive federal reserve in years. In just under five hours� time the fed is expected to finally start cutting the cost of borrowing from its two decade high. But how deep are the first could be and with concerns in some quarters about a rapidly weakening us economy, has the fed left it too late . Let� s get more from the chief fixed Income Strategist at janney montgomery scott. The big debate here, 25 or a 50 Basis Point Cut. What are you expecting . Basis point cut. What are you petting . Expecting . Its a close call. I think there expecting . Its a close call. I think there is expecting . Its a close call. I think there is relatively think there is relatively little economic impact from one or the other depending on how that decision is made. 0ur Expectation is that the federal reserve will reduce overnight Interest Rates by a quarter of a point, 25 Basis Points, but issued strong language indicating that they could move faster and can biologically put Teacher Meetings if conditions determine that� s appropriate. 0ne determine that� s appropriate. One thing that� s important here is if you look through business surveys for the last few months and even consumer surveys, a huge number of individual Decision Makers in the us economy are waiting for this federal Reserve Action so regardless of what it is we think they could be positive psychological effect. I think they could be positive psychological effect. Think they could be positive psychological effect. I am very interested psychological effect. I am very interested in psychological effect. I am very interested in the psychological effect. I am very interested in the different interested in the different signals we are getting from the Bond Market which is pricing a Recession Risk and stocks which we are seeing trade near record highs. What you make of that . Its highs. What you make of that . It� s very much a conundrum, i agree. My perception is that what the Bond Market is telling us in Interest Rates are telling us there is more risk of inflation falling below the 2 target. I am not convinced there is a very strong economic downside and certainly a chance of that in early 2025, but i think this federal Reserve Rate Cut can provide a psychological influence to help re accelerate economic activity late this year and into next year. Thank ou so year and into next year. Thank you so much year and into next year. Thank you so much. Lets year and into next year. Thank you so much. Lets take year and into next year. Thank you so much. Lets take a you so much. Let� s take a closer look now at that us Interest Rate Decision in just overfour Interest Rate Decision in just over four hours� time. Interest Rate Decision in just overfour hours� time. Our North AmericanBusiness Correspondent has been to York Pennsylvania to find out how consumers and businesses have been coping with Borrowing Costs at a two decade high and what a reduction will mean for them. Jennifer heasley the owner of sweet members mumble source is all too familiar with the burden of higher Borrowing Costs. Finally that is set to change. Forthe costs. Finally that is set to change. For the first time in four Years Interest rates are about to come down. For the maker of Barbecue Star Source who might the worlds most powerful Central Banker in pennsylvania last year, some relief. She had been paying a high rate on the Credit Card uses to fund her business. My interest uses to fund her business. Ij� i Interest Rates uses to fund her business. M Interest Rates have gone uses to fund her business. M1 Interest Rates have gone up uses to fund her business. M1 Interest Rates have gone up and so my monthly pavements have increased tremendously. I would like to see the Interest Rate come back down. Like to see the Interest Rate come back down. When Jerome Powell visited come back down. When Jerome Powell visited this come back down. When Jerome Powell visited this Market Come Back down. When Jerome Powell visited this market the I Powell visited this market the federal reserve was watching closely to see if it big Interest Rate hikes were calling inflation even though it was tough on small businesses. That is about to change. Mr powell and his colleagues are set to cut Interest Rates. In york the arrival of autumn marks a change. After raising Interest Rates 11 times america� s Central Bank is all but certain to start to unwind that. But how quickly they go down from here is still up for grabs. Perfectly like this on your porch perfectly like this on your porch and then we price it less than porch and then we price it less than picking up the pumpkins. At this than picking up the pumpkins. At this Farm Shop the rebirth of the economy as inflation. Sit at the fed� s official target of 2 is yet another moment of change. We target of 296 is yet another moment of change. We want Stability Moment of change. We want stability. Isnt moment of change. We want stability. Isnt that moment of change. We want stability. Isnt that what stability. Isnt that what everyone wants . It means security. Everyone wants . It means security. Stability means you can predict what your business will do can predict what your business will do and how your community will do and how your community will grow. Will do and how your community will grow, all those things. That will grow, all those things. That means you are secure. Still, that means you are secure. Still, on that means you are secure. Still, on the Outskirts Of Town the First Rate cuts since the pandemic may not fix america� s tough housing market. This is the director of marketing at Keystone Custom homes and he tells me that despite the Mortgage Squeeze House prices here have remained high. Economics 101, we are seeing not enough economics 101, we are seeing not enouqh supply economics 101, we are seeing not enough supply and economics101, we are seeing not enough supply and if economics 101, we are seeing not enough supply and if the i not enough supply and if the demand not enough supply and if the demand increases not enough supply and if the demand increases because l not enough supply and if the I Demand increases because of Affordability Demand increases because of affordability its demand increases because of affordability its even demand increases because of affordability its even better. | affordability its even better. Assuming affordability its even better. Assuming the affordability its even better. Assuming the Supply Affordability its even better. I assuming the supply remains static assuming the supply remains static as assuming the supply remains slalic as it assuming the supply remains static as it is assuming the supply remains static as it is we assuming the supply remains static as it is we are static as it is we are anticipating static as it is we are anticipating its static as it is we are. Anticipating its going static as it is we are anticipating its going to push pricing anticipating its going to push pricing even anticipating its going to push pricing even higher. Anticipating its going to push pricing even higher. 50 anticipating its going to push pricing even higher. Pricing even higher. So rates are on their pricing even higher. So rates are on their Way Pricing even higher. So rates are on their way down, are on their way down, potential boost to consumers and businesses. The question now is how long will they go . How low. Let� s bring in Professor Randy grows in a former member of the federal reserve� s board of governors and he now teaches at the university of chicago. The question of the week, what is it going to be . 25 or a 50 Basis Point Cut to rates . This is the first Basis Point Cut to rates . This is the first time Basis Point Cut to rates . This is the first time they Basis Point Cut to rates . This is the first time they are is the first time they are coming to the meeting and they don� t know in advance. Typically is it pretty clear what they going to do and they have telegraphed that to the market but here it could go either way. Market but here it could go eitherway. I market but here it could go either way. I think it� s slightly more likely it will be 25 Basis Points with a promise for a lot more to come. But it� s a close call. For a lot more to come. But its a close call. For a lot more to come. But its a close call. How do you think the its a close call. How do you think the markets its a close call. How do you think the markets are its a close call. How do you think the markets are goingj its a close call. How do you i think the markets are going to react . There has been so much division going into this meeting and i am interested in the opposing signals we are getting from the Bond Market. There certainly seems to be a lot of optimism in the stock market. You can� t rely on the fed to do everything for the economy. Interest rates are very important piece of it but they are only a piece of it. Fiscal policy, regular tory policy, certainty related to us elections, so there are a lot of other things that come in. The Bond Market is being a bit more sober and saying we are a bit worried about spending going forward, a bit worried about the economy going forward and exactly where inflation is going to go. And exactly where inflation is going to 90 and exactly where inflation is going to go and exactly where inflation is going to go. Arguably, what is more important going to go. Arguably, what is more important will going to go. Arguably, what is more important will be going to go. Arguably, what is more important will be the more important will be the Forward Guidance we get. How low can rates go . Forward guidance we get. How low can rates go . Exactly. One coat of a low can rates go . Exactly. One coat of a Percentage Low can rates go . Exactly. One coat of a percentage. 1 low can rates go . Exactly. One coat of a percentage. 1 way low can rates go . Exactly. One coat of a percentage. 1 way or| coat of a percentage. 1 way or another is not going to make or break the us economy. But it� s really where they are heading for the rest of the year as well as in the longer run. They have been raising where the End Point is going to be over time and it� s not going to be as low as it has been for the last few years when Interest Rates were extraordinarily low and it� s not going to be quite as high as it was pre globalfinancial crisis. It will be somewhere between, probably in the 3 range. That should be arranged where the us economy can withstand that. Where the us economy can withstand that. Thank you so much. Withstand that. Thank you so much lets withstand that. Thank you so much. Lets stay withstand that. Thank you so much. Lets stay on withstand that. Thank you so much. Lets stay on that much. Let� s stay on that subject but moved to the uk because the Bank Of England makes its next decision on Interest Rates tomorrow. Like the fed it has been battling to bring inflation under control and last month it cut the cost of borrowing after a steep fall in the great prices rising but new figures suggest it might hold up from further cuts. Uk Consumer Price Inflation came in a 2. 2 for the year to august, unchanged from july, so slightly above the back of in� S Target of 2 . Core inflation which strips out the impact of volatile items like Food And Energy did rise to 3. 6 in the 12 months to august, that� s up from 3. 3 injuly. Inflation in the uk� s huge Service Sector, things like hotels and restaurants, rose to 5. 6 from 5. 2 in july. Restaurants, rose to 5. 6 from 5. 2 injuly. 50 restaurants, rose to 5. 6 from 52 in july 5. 2 in july. So the Headline Fiaure 5. 2 in july. So the Headline Figure remains 5. 2 in july. So the Headline Figure remains unchanged. L 5. 2 in july. So the Headline L Figure remains unchanged. But there were some changes and we look at the subcomponents. Service Sector Inflation which is an area of the Bank Of England is watching very closely and as it considers and weighs up when to cut Interest Rates and it takes higher. This was expected and it does suggest that the Service Sector inflation is probably a bit more sticky than what the Bank Of England would like. We also saw Core Inflation so this is the Inflation Gauge which strips out more volatile items such as food and fuel, also rose. But we saw ppi inflation, versus what is called Factory Gate Inflation or wholesale inflation, and it� s an considered Lead Indicator and Consumer Price Inflation. That actually fell. So that is a good sign, that suggests we may see a further cooling in cpi, the Consumer Headline Inflation going forward. But that would be, again we would need to see Service Sector inflation go further before the Bank Of England feels comfortable with cutting rates again. The england feels comfortable with cutting rates again. Cutting rates again. The Food Container Cutting rates again. The Food Container Firm cutting rates again. The Food Container Firm tupperware i cutting rates again. The food | Container Firm tupperware has filed for bankruptcy. The 78 year old firm has become so synonymous with Food Storage that many people use its name referring to annual plastic container. But it has been struggling with falling sales and fears on Wall Street about its future have seen shares slump more than 50 this week alone. So what went wrong at the firm . The firm . The party has been over for to the firm . The party has been over for to play the firm . The party has been over for to play for the firm . The party has been over for to play for some the firm . The party has been i over for to play for some time. What over for to play for some time. What it over for to play for some time. What it had been faced with shifts what it had been faced with shifts in what it had been faced with shifts in Buyer Behaviour as consumers have attempted to wean consumers have attempted to wean themselves off plastic and find those alternatives with better find those alternatives with better ego credentials. It also kept better ego credentials. It also kept the better ego credentials. It also kept the direct Selling Approach for far too long. When it did approach for far too long. When it did try approach for far too long. When it did try to sell through retailers it has come a bit too little retailers it has come a bit too little too retailers it has come a bit too little too late. In retailers it has come a bit too little too late. Little too late. In other news, and Eu Court little too late. In other news, and Eu Court has little too late. In other news, and Eu Court has annulled. Little too late. In other news, and Eu Court has annulled a i and Eu Court has annulled a fine of almost 1. 5 billion euros imposed on google in 2019 of online searches. The European Commission ruled that google had abused its Market Dominance by restricting third party rivals from displaying search adverts in the ten years to 2016. At the luxembourg based General Court said the European Commission had committed errors in its assessment. That is all we have time for. Do stay with us here on bbc news. Thanks for watching. Hello, i� m Sarah MulkerrinsAt The Bbc Sport centre. We� ll start with the sad news from the world of football that 1990 World Cup Hero salvatore � toto� schillaci has died at the age of 59. The italian scored six goals to win the Golden Boot at the World Cup. Italy lost in the Semi Finals on home soil, but schillaci was also awarded the golden ball as the best player and gained hero status. He was diagnosed with Colon Cancer in 2022. Domestically, schillaci helped juventus to claim the Coppa Italia and Uefa Cup in 1990 before winning the latter trophy again four years later with inter milan. Serie a described him as a champion who lit up the magical nights of the 1990 World Cup in italy. What makes him so