Banking Summary

The Federal Reserve is preparing to cut interest rates for a third time this year, as market participants await further commentary from the Fed. This decision comes amidst a backdrop where the stock market is holding strong, close to all-time highs, with key updates expected from the Federal Reserve at 2 p.m.

ET on Wednesday. Additionally, in banking news, a woman has been accused of scamming nearly $30 million from banks and institutions in California by posing as a wealthy heiress, highlighting ongoing concerns regarding fraud in the banking sector.