Fed cuts US interest rates again despite 'flying blind'British Broadcasting Corporation

The US Federal Reserve cut interest rates again, citing a slowing labor market despite inflation concerns taking a backseat. This decision was made amidst the ongoing government shutdown, which limits access to economic data. While some officials disagreed with the cut, the Fed aims to boost the job market by lowering borrowing costs, with future moves being data-dependent. The Fed also plans to stop shrinking its balance sheet in December.