Federal Reserve research suggests consumer spending is the primary driver of the U.S. economy
A big reason the Fed is reducing rates is because hiring has slowed, unemployment has picked up
Inflation in August was barely above the Fed's 2% inflation target
Polled Americans continue to cite inflation as a leading concern
Move reflects new focus on bolstering the job market
Online retailers, sporting goods stores, and home and garden stores all reported higher sales
The central bank is expected to announce a rate cut this Wednesday
It was the fifth straight annual drop and the smallest since February 2021
U.S. hiring rebounds slightly, unemployment rate dips
Most Americans, however, are not in the same celebratory mood after the Fed's rate hike campaign