London (CNN Business) 1. Fed day: The day investors have been anticipating for weeks is finally here.

The Federal Reserve will announce its decision on interest rates at 2 p.m. ET, followed by a press conference with Chairman Jerome Powell.

It's widely expected that the Fed will cut interest rates for the first time in more than a decade. Attention will then shift to what Powell has to say about the path forward.

Powell could also face questions on why a rate cut is necessary at a moment when the US economy is strong and unemployment remains historically low, and whether cutting rates now could limit the Fed's ability to respond to a future crisis.

The economic impact of the trade fight between the United States and China is likely to come up, too. President Donald Trump's tweets on Tuesday criticizing China indicated that a deal could still be a ways off.