Fed Rate Decision Looms as Inflation Remains a Concern

The Federal Reserve's interest rate policy will be the main focus for Wall Street this week.

The central bank will close out its two-day meeting on Wednesday and could raise its benchmark interest rate in an effort to tame stubbornly high inflation.

Wall Street will also get an update on U.S. retail sales for August, which could provide more insight into how and where people are spending money amid higher inflation and slower wage growth.

Inflation has been a persistent issue throughout the year, holding above 3% despite efforts to curb it.