Federal Reserve cuts key interest rate in bid to boost job market

The Federal Reserve on Wednesday cut its benchmark interest rate for the second time this year as it seeks to boost economic activity and rejuvenate the sluggish labor market despite concerns about persistent inflation.

But far from having a clear way forward, disagreements within the Fed's policy-setting committee and warnings from Chair Jerome Powell highlight the complicated challenges that the U.S. central bank faces from an economy that offers little certainty.

"What do you do if you’re driving in the fog?" Powell asked at a press conference following the Fed's announcement. "You slow down."...