Federal Reserve cuts key interest rate; shutdown pain intensifies
Wednesday’s decision brings the Fed’s key rate down to about 3.9%, from about 4.1%.
by NBC Staff, NBC Staff · 5 NBCDFWWhat to Know
- The Federal Reserve cut its short-term rate for the second time this year despite an increasingly cloudy view of the economy it is trying to influence.
- The effects of the month-long government shutdown are about to be felt outside of Washington, D.C., as millions of Americans who receive federal benefits will be impacted directly if a deal to reopen the government isn’t reached by the end of the week.
- The shutdown is costing U.S. economy $7 billion per month, according to the Congressional Budget Office.
- Israel's military said Wednesday that the ceasefire was back on in Gaza after it carried out heavy airstrikes.
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