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The Federal Reserve cut interest rates for a second time this year on Wednesday, despite officials having only a partial view of how the economy is faring because of the shutdown.
The central bank voted to lower borrowing costs by a quarter of a percentage point as the lapse in funding for the government stretched into its fifth week. Until lawmakers reach a deal, the Bureau of Labor Statistics and other agencies have stopped collecting, analyzing and publishing official statistics tracking the jobs market, consumer prices, spending and a range of other metrics.
Wednesday’s decision, which brought interest rates below 4 percent for the first time since late 2022, was a divisive one. Two officials dissented for different reasons. Stephen I.
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