The US economy is expecting a nervy 24 hours as it reacts to cuts from the Federal Reserve

Rates have gone down by zero-point-five percent, to about 4.8 percent, a far bigger rate than economists had predicted.

Vice-President Kamala Harris has welcomed the cuts, and says she remains focused on keeping prices down.

JMI Wealth director Andrew Kelleher says sharemarkets are also expected to bounce around over the next day.

He says because risks were so finely balanced going, it will be a wait and see approach to see where the money lands.