The Federal Reserve left interest rates unchanged Wednesday in the 5.25 to 5.5 percent range, a two-decade high. Fed Chair Jerome Powell told reporters that his team has growing confidence for a September rate cut, but they have not made any decisions for future meetings.

An anticipated decision on interest rates is expected from the Federal Reserve, as many believe the Fed is poised to cut rates for the first time in years. Editor-in-Chief at Investopedia, Caleb Silver,