Wall Street week ahead: Federal Reserve decision on interest rates, retail sales update

This week, Wall Street will focus on the Federal Reserve's decision on interest rates and an update on U.S. retail sales from August. The central bank is expected to either maintain or raise its benchmark interest rate to combat high inflation, which has remained above the target rate of 2% for over a year. Inflation has been driven by the U.S.-Iran war, causing a significant spike in oil prices, which in turn has affected gasoline costs and overall household budgets.

The Fed has been under pressure from President Donald Trump to lower interest rates, a move that could boost the economy but risk exacerbating inflation.