Hey, from CNN. I'm Afoma DK.

With the five things you need to know for Wednesday, October 29th.

The Federal Reserve cut interest rates to their lowest level in three years.

Fed officials voted for another quarter point cut, marking the second time the Fed has lowered the benchmark rate this year.

It's part of the central bank's bid to prevent

unemployment from surging. Here's Fed chair Jerome Powell. Although official employment data

for September are delayed, available evidence suggests that both layoffs and hiring remain low.

The move matched expectations on Wall Street, but hopes for an additional rate cut in December appear

to be up in the air.

In the committee's discussions at this meeting, there were strongly differing views about how to proceed in December.

A further reduction in the policy rate at the December meeting is not a foregone conclusion.

Far from it.

The Dow and S&P dipped into the red after Paul's comment.

As Hurricane Melissa closes in on the Bahamas as a Category 1 storm,

Jamaica, Cuba, and Haiti are left picking up the pieces.

The storm has killed more than 30 people in the Caribbean.

Melissa made landfall in Jamaica as a Category 5 yesterday, becoming one

of the strongest Atlantic hurricanes on record. A government spokesperson says most of the island

is without power. In northwestern Jamaica, a hotel manager tells CNN its staff members are

unable to contact relatives or make it home due to down power lines and blocked roads.

The hurricane hit Cuba as a category three earlier today.

The government there says river levels rose, cutting off access to around 140,000 people.

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