WASHINGTON — The Federal Reserve is expected to leave interest rates unchanged at its final meeting of the year on Wednesday as officials wait to see how the economy fares after they cut rate three times in 2019.

The Fed chair, Jerome H. Powell, and his colleagues made an aggressive shift this year. After slowly raising rates between late 2015 and 2018 to keep an expanding economy operating at an even keel, they lowered them between July and October as President Trump’s trade war roiled business confidence and global growth slowed.

Their moves seem to have helped, and growth looks to be on sounder footing. Policymakers have signaled that they will now leave rates unchanged until something causes them to reassess the outlook, a message that economists expect the Fed to reaffirm in its post-meeting statement and new economic projections on Wednesday afternoon.

“Markets get, loud and clear, that the Fed feels the current policy rate is appropriate,” said Michelle Girard, chief United States economist for NatWest Markets. Ms. Girard said investors would now be on the lookout “for any sign — for any more information — about what would lead to a change in their thinking.”