ECONOMY

Fed set for second rate cut amid uncertainty

The Federal Reserve is expected to cut its benchmark rate by a quarter point Wednesday—its second in six weeks—as officials prioritize a weakening labor market over still-elevated inflation. Layoff announcements are piling up, including Amazon’s 14,000 corporate cuts, Target’s 1,000 plus 800 unfilled roles, and about 100,000 federal jobs cut in the first eight months. A government shutdown has choked off key data: September’s jobs report is overdue and October’s may not be tallied. With September inflation slightly milder and ADP showing a tepid hiring uptick, Fed official Chris Waller cites softer payroll gains as retailers report solid spending.

Reviewed by JQJO team

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