Federal Reserve Cuts Rates Again Amid Ongoing Government Shutdown Challenges

The Federal Reserve cut its key interest rate by a quarter percentage point amid a prolonged federal government shutdown, complicating economic forecasting.

• On Wednesday, the Federal Reserve reduced its key interest rate by a quarter percentage point, setting the new target range between 3.75 percent and 4 percent.
• This decision, made by a 10-2 vote, represents the second rate cut by the central bank this year as it grapples with economic uncertainties.
• The ongoing shutdown of the federal government of the United States, now entering its fifth week, has disrupted the release of critical economic data from the Bureau of Labor Statistics.