The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated

The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring, even as inflation stays elevated. But Fed Chair Jerome Powell also cautioned that further rate cuts weren’t guaranteed,

The rate cut could gradually reduce costs for mortgages, credit cards, auto loans, and business borrowing, offering some relief.

T he US Federal Reserve pushed forward with an interest rate cut as inflation fears continue to take a backseat to concerns about a stalling labour market. It came despite the US government shutdown,

The widely expected move delivers a lowering of interest rates sought by President Donald Trump, though the size of the cut falls short of the major drawdown called for repeatedly by the president. The Fed previously projected an additional quarter-point cut at its next meeting in December,

The Federal Reserve on Wednesday lowered interest rates for the second time this year in a continued bid to prevent unemployment from surging.

Investors are nearly certain that the Federal Reserve will announce a quarter-point cut to its benchmark interest rate Wednesday afternoon.