The Globe and Mail reports in its Monday, Sept. 16, edition that the U.S. Federal Reserve is expected to decrease interest rates for the first time in four years on Wednesday, starting a long-awaited easing cycle and influencing global financial markets heading into the fall. The Globe's Mark Rendell writes that the central question is whether the Fed will deliver a standard quarter-point rate cut, or instead opt for a larger move as inflation decreases and the United States' strong economy shows signs of slowing down. Historically, significant rate cuts have been prompted by financial-market turmoil or fears of a recession -- neither of which are especially apparent right now. Fed policy-makers may also be cautious about acting too aggressively. Nevertheless, financial markets are now putting the odds of a half-point rate cut at around 50 per cent, up significantly from earlier bets in the week. So far, the Fed looks to have achieved the rare feat of corralling runaway price growth without causing a recession. However, this "soft landing" could be in jeopardy if it waits much longer to start easing monetary policy or moves too slowly to bring interest rates back to more normal levels.