Fed makes second consecutive interest rate cut

Interest Rate Cuts & Monetary Policy - The Federal Reserve announced a second consecutive interest rate cut of 0.25% [1] - This is the second rate cut this year, following a cut in September [2] - Expectations exist for a potential third rate cut by the Fed before the end of the year in December [3] Economic Indicators & Data Uncertainty - The Fed made this decision without fresh economic data due to the government shutdown [1] - The US is currently in a "data fog," lacking an official jobless rate due to the government shutdown [4] - The Consumer Price Index (CPI) inflation gauge was at 3%, considered slightly too high by the Fed [4] - The Fed is closely monitoring private sector economic indicators to gauge the overall economic situation [5] Job Market Concerns - The Fed has been concerned about a slowing job market [2] - Recent headlines show job cuts at companies like Amazon, UPS, Target, and Intel [6] - The Fed chair Jerome Powell is expected to address the job market and potential risks, including the impact of artificial intelligence [6]