1. The Federal Reserve lowered its benchmark interest rate by 0.25 percentage points, with the new range being between 3.75% and 4%. This is the second cut in six weeks.
2. Chair Jerome Powell stated that policymakers are in a challenging situation, facing tension between employment and inflation goals, as prices are still rising faster than the Fed's target of 2%, and risks in the labor market have increased recently.
3. The ongoing government shutdown is complicating the Fed's job, as it leaves policymakers without crucial data about the direction of the US economy and has led to layoffs among government workers.