WASHINGTON, D.C. – The Federal Reserve made a significant decision today, cutting interest rates by a quarter of a percent despite the ongoing government shutdown. This marks the second rate cut of the year, bringing the key interest rate to a three-year low.

Federal Reserve Chair Jerome Powell addressed the decision, highlighting factors influencing the cut.

"A good part of the slowing likely reflects a decline in the growth of the labor force due to lower immigration and labor force participation, though labor demand has clearly softened as well," Powell said.

The rate cut reflects concerns about a rocky job market and persistent inflation. This decision was made without updated federal jobs data due to the government shutdown.

Additionally, the move comes as major corporations inclu

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