The Federal Reserve cut its key interest rate on Wednesday.

By the numbers:

The rate went from 4.1% to about 3.9%. The central bank had cranked its rate to roughly 5.3% in 2023 and 2024 to combat the biggest inflation spike in four decades

Big picture view:

The Fed stayed course on its expected cut despite missing government data clouding the view of the economy amid the shutdown.

The missing hiring and inflation data that has not been released during the shutdown raises risks for the Fed because the agency is widely expected to keep cutting rates in an effort to shore up growth and hiring.

FILE - Wall of brand new one dollar bills. Getty Images

What's next:

The third rate cut this year is expected in December.

Meanwhile:

Fed officials say they are monitoring a range of other dat

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