The Federal Reserve is nearing the end of an era as the central bank looks to cut interest rates for the first time in four years.

If the Fed eases monetary policy at its next meeting on Sept. 18 as expected, it will officially mark the termination of the most aggressive inflation-fighting campaign since the 1980s. Its benchmark rate is currently at 5.25% to 5.5%, a 23-year high.

The central bank's new era of easy money is expected to last through 2025 and 2026. That shift will ripple through the US economy by making it cheaper for Americans to borrow what they need to buy houses and cars or credit card purchases.

Businesses will also have an easier time taking out loans to fund their operations.

"We're starting this rate cut cycle, it looks like, in September at a place that fed funds hasn't been in more than 20 years," WisdomTree head of fixed income strategy Kevin Flanagan told Yahoo Finance.

"You have a whole generation of investors who have never experienced rate cuts at these levels of interest rates."