Analysts and investors are increasing their interest in the home improvement sector after the Federal Reserve lowered benchmark interest rates for the first time in four years. Lowe's Companies (NYSE:LOW) tracked higher in early trading on Tuesday after Oppenheimer upgraded the home improvement retailer to an Outperform rating after having it set

Share prices for Home Depot and Lowe's are riding high following the Fed's interest rate cut, which is likely to spur home improvement spending.

The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.

MORE: What does the Fed interest rate cut mean for mortgages and homebuyers? By the end of 2024, interest rates will fall another half of a percentage point from their current lev

President Joe Biden said Thursday the Federal Reserve's decision to lower interest rates was “an important signal” that inflation has eased as he poked at Donald Trump's economic policies as a failure in the past and sure to “fail again” if revived.

Arthur Hayes, co-founder of BitMEX, has voiced concerns that the recent U.S. Federal Reserve rate cut could have been politically motivated to influence upcoming elections, potentially leading to increased market volatility and inflation.

Central bank’s aggressive move follows a gradual reduction in US inflation and comes less than two months before election day