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.

Federal Reserve Board Chairman Jerome Powell announced on Wednesday that the Federal Open Market Committee will slash interest rates by a quarter of a percent. The Federal Reserve announced that it slashed interest rates for the second time this year amid rising unemployment and increasing inflation.

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