The Federal Reserve announced that it is cutting interest rates for the second time this year, bringing the short-term lending rate below 4%.

Central Bank officials were forced to make their decisions without some key federal economic and job market data due to the ongoing government shutdown.

Prior to the Federal Reserve’s rate cut announcement, the market was experiencing an uptick.

At the market close on Wednesday afternoon, the markets had mixed reactions to the lowered interest rates.

Caleb Silver, the editor-in-chief at Investopedia, stopped by “The Rush Hour” on Wednesday to talk more about rate cuts and their impact on New Yorkers.

Tap the video player above to watch the interview.

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