As PSATS predicted, The Federal Reserve on Wednesday cut interest rates by a quarter point for the second time in a row on labor market concerns – but Chair Jerome Powell said another cut in December is “far from” certain. Officials lowered rates to a new range of 3.75% to 4% as they remain more concerned about a dramatic drop in job growth than higher inflation. It’s the first time since 2022 that rates set by the Fed have dipped below 4%. “There is no risk-free path for policy,” Powell said, noting there is “tension” between the Fed’s goals for maximum employment and 2% inflation. He added there are “strongly differing views about how to proceed in December” – and another cut is not at all guaranteed. The remarks sent the Dow plunging more than 200 points. Policymakers were split over Wednesday’s decision, with two officials voting against it. Township impacts will be lower interest rates on borrowing and bonds, but also lower rate of return on any cash investment balances.