Welcome to the Jill on Money Show. It's Tuesday, September 16th, and it's a momentous day. It is the first day of a two-day federal reserve policy meeting. And for the first time since last December, we are going to likely see rate cuts. And you probably don't remember this,

but it was just around a year ago last year, 24th, September. When the Fed began cutting interest rates,

I had to look this up, Mark, but they had a half a point. That first cut was a half a point in

September, two subsequent quarter points,

one in October, one in December. So one full percentage point, 100 basis points of cuts between

September and December of last year. Then the Fed went on pause. And then we know what happened next.

There were a lot of policy announcements. There were

immigration announcements. There were tariff announcements. All of those really push the Fed to the

sidelines for a while. But now it looks like the Fed is ready to get up and start playing again.

I was on Face the Nation on Sunday. And I was in a nice long interview with Major Garrett,

who was sitting in for Margaret Brennan. And I think it's a good way to think about where we are in

the economy, especially at this moment where we are expecting the Fed to cut interest rates. So I thought

I would air this. And if anyone has a question about anything

mentioned in the interview, of course, get in touch with us. But I think it kind of sets the table

for what's about to happen over the next two days. So here is my interview on Face the Nation

with CBS News's Major Garrett.

Everyone expects the Federal Reserve to cut rates this coming week.

That's not a mystery.

I guess the only mystery is, is it 25 basis points or 50 basis points?

And if it's 50, how much more of a difference might that make?

Well, I think it's more likely to be a quarter of a percentage point, at least for this

meeting. And remember, what is the Fed's job? They've got to keep into balance two big priorities,

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