The Federal Reserve is widely expected to cut interest rates for the first time in four years but its unclear whether policymakers will lower borrowing costs by 50 basis points or just 25. FOX Business is providing real-time updates on the markets,

U.S. stocks rose after the Federal Reserve lowered its benchmark interest rates by 50 basis points to a range of 4.75% to 5%. That was the first rate cut in over four years that marked the beginning of a monetary-easing cycle in the world's largest economy.

"Overall, still consistent with an economy experiencing a soft landing rather than plummeting into recession," economist Paul Ashworth said.