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In the fourth quarter, consumer spending grew at a 2% clip, down from 3.5% in the third quarter.
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A downturn in government and consumer spending contributed to the slowdown in fourth-quarter growth.
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Wednesday's decision brings the Fed's key rate down to about 3.9%, from about 4.1%.
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Employers are now contending with fallout from President Trump’s policies, especially his aggressive use of import taxes – tariffs.
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Average hourly wages rose 0.4% from April and 3.9% from a year earlier – a bit higher than forecast.
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The national median sales price rose 4.8% in January from a year earlier to $396,900.
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EDAWN confirmed the State of Northern Nevada's economy is good. They say there are a lot of positives happening in the northern part of the State, seeing a lot of investment and advancement with innovative companies.
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The December jobs numbers delivered a clearer reading of where things stand.
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The labor market has hinted at some softening recently but remains broadly healthy and has held up better than many economists predicted.