U.S. economic growth slowed less than expected in the third quarter as a further contraction in business investment was offset by resilient consumer spending, further allaying financial market fears of a recession. The Federal Reserve cut interest rates for the third time this year on Wednesday amid lingering threats to the longest expansion on record from uncertainty over trade policy, slowing global growth and Britain’s departure from the European Union. The U.S. central bank, however, signaled a pause in its easing cycle, which started in July when it reduced borrowing costs for the first time since 2008. “An orderly economic slowdown is in progress,” said Sung Won Sohn, a business economics professor at Loyola Marymount University in Los Angeles. “Unfortunately, businesses do not share the same optimism consumers have.” The Trump administration’s trade war with China has eroded business confidence, contributing to the second straight quarterly […]