Bloomberg Money Minute: Fed Rate Decision, SNAP Restrictions, Cracker Barrel Cuts

Federal Reserve Rate Decision

• 📊 Traders are awaiting the Federal Reserve's decision on interest rates, with an announcement expected around 2 PM Wall Street time.
• 📈 Following the announcement, the central bank will provide its outlook for interest rates through 2026.

SNAP Program Restrictions

• 🍎 The USDA has approved six additional states to exclude unhealthy items like soda and candy from SNAP purchases, bringing the total to 18 states.
• ⚠️ These restrictions are being implemented by states run by Democrats, including Colorado and Hawaii.

Cracker Barrel Corporate Changes

• 📉 Cracker Barrel is implementing corporate staff cuts following a sales decline after a recent logo rebranding.
• 💰 The company anticipates that these restructuring plans could save upwards of $25 million annually.
• 🎯 Cracker Barrel has also revised its sales and profit outlooks downwards, with shares trading slightly lower.