The Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday for its second consecutive meeting, seeking to steady a weakening labor market, while a month-long government shutdown has clouded its view of the economy.
Wednesday's widely expected move lowers the Fed's benchmark interest rate to a range of 3.75 to 4 percent, influencing what households and businesses pay for mortgages, credit cards and other loans. Risks to employment "rose in recent months," the Fed said in a statement.
Investors will be listening for clues from Chair Jerome Powell on how much further and how quickly policymakers may cut over the coming months, when he speaks at 2:30 p.m. Eastern time.
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