CBO cuts interest rate by 25 basis points

Earlier, the US Federal Reserve on Wednesday announced its second consecutive quarter-point rate cut to bolster the flagging labor market, unveiling a decision that highlighted the growing division in its ranks.
Policymakers voted 10-2 in favor of lowering the bank's key lending rate to between 3.75 percent and 4.00 percent, the Fed said in a statement.
The decision to cut rates boosts the US economy at a time businesses are still digesting the effects of President Donald Trump's sweeping tariffs, and buys policymakers some more time as they wait for the end of the government shutdown.