The Federal Reserve cut its benchmark interest rate by a quarter percentage point Wednesday, because the central bank is more concerned about the job market than it is with battling inflation.

Interest rates should continue their downward journey, as forecasters expect another rate cut from the Fed on Oct. 29. Are more cuts coming?

The rate cut could gradually reduce costs for mortgages, credit cards, auto loans, and business borrowing, offering some relief.

The widely expected move delivers a lowering of interest rates sought by President Donald Trump, though the size of the cut falls short of the major drawdown called for repeatedly by the president. The Fed previously projected an additional quarter-point cut at its next meeting in December,

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

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.

The Federal Reserve is expected to cut its short-term rate Wednesday for the second time this year despite an increasingly cloudy view of the economy it is trying to influence. The government shutdown has cut off the flow of data that the Fed relies on to track employment,