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Wednesday's climb toward a closing level above 48,000 in the Dow Jones Industrial Average was interrupted after Federal Reserve Chair Jerome Powell refrained from signaling that another interest-rate cut in December is on the way.
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The Fed cut interest rates slightly on Wednesday to steady the economy amid a weakening job market, as a long government shutdown has clouded its view of the economy.
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The Federal Reserve cut interest rates by a quarter point for the second time this year, but the probability of a reduction at its next meeting fell after Jerome Powell, the central bank's chair, said that officials held "strongly differing views."
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The Fed is expected to cut interest rates as job market shows signs of weakness NPRThe Fed has a rate cut plus a bunch of other things on its plate this week. Here's what to expect CNBCTrump wants the Fed to lower rates. The government shutdown could make that less likely CNNWhat to Watch at the Federal Reserve's October Meeting The New York Times
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The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated.
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Federal Reserve issues FOMC statement Federal Reserve Board (.gov)Fed looks set to cut rates for second time this year despite data blackout CNNHere's what changed in the new Fed statement CNBCFederal Reserve cuts interest rate NBC News
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See how the central bank's interest rate stance influences car loans, credit cards, mortgages, savings and student loans.
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Everyone thinks AI is replacing factory workers, but Amazon's layoffs show it's coming for middle management first FortuneWhat Amazon's mass layoffs are really about CNNExclusive: Amazon targets as many as 30,000 corporate job cuts, sources say ReutersStaying nimble and continuing to strengthen our organizations About AmazonText messages told employees they had be
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