DARYN KAGAN, CNN ANCHOR: Now to news about your money. The Federal Reserve is widely expected to announce another interest rate cut today. It's an effort to rev up the country's economic engine. CNN's Peter Viles is in Washington, D.C. That is where Fed policy-makers will wrap up their two-day meeting today -- Peter, good morning.</s>PETER VILES, CNN CORRESPONDENT: Daryn, as you said, it's a two- day meeting. And for the second day in a row today, the Federal Reserve policy-makers meeting in the building behind me have received negative news about the economy. Fourth-quarter growth -- overall growth in the American economy in the fourth quarter came in slower than expected: just 1.4 percent growth in the fourth quarter. That is the lowest rate of growth in the American economy in 5 1/2 years. Economists knew the economy was slowing down. They thought growth would come in stronger than that, though. They were hoping something around 1.9 percent. So that is another element to throw into the mix here -- Wall Street widely expecting, though, an interest rate cut from the Federal Reserve this afternoon, probably half-a-percentage point -- Daryn.</s>KAGAN: Peter, are we thinking that that's already built into the market: that half-percentage drop?</s>VILES: It has been built into the markets for a couple of days. Yesterday, there was some discussion about perhaps even a three- quarter-percent interest rate cut. But what is priced into the price of stocks and bonds today is half-a-point rate cut. So if the markets don't get that, you can expect them to react badly, because they fully expect that to come: a half-a-point interest rate, just like the half- a-point rate cut they got unexpectedly from the Federal Reserve earlier this month.</s>KAGAN: Peter Viles, in Washington, D.C., thank you very much. We will be watching for that interest-rate-cut news out of D.C. later today: 2:15 p.m. Eastern. You will see that live here on CNN.
Federal Reserve Expected to Lower Interest Rates Today