Fed cuts interest rates for third straight time amid uncertainty over labor market, inflation

The Federal Reserve on Wednesday announced its third interest rate cut of the year as policymakers moved forward with the cut to support the labor market despite elevated inflation.

Fed policymakers voted to lower the benchmark federal funds rate by 25 basis points to a new range of 3.5% to 3.75%. The move follows rate cuts of that size in September and October, which were the first of the year...