The Federal Reserve lowered its key interest rate by a quarter point to 3.75%–4.00%. This is the second cut this year. The Fed said the move aims to protect jobs as the economy shows signs of slowing. Hiring has cooled, and government spending is under strain. Inflation is still above the target, but price growth has eased. The Fed will watch new data before deciding on another change. Stock markets rose slightly after the news, and some investors expect one more cut before year’s end.