Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The interest on excess reserves now stands at 1.8%, a 30 basis point cut compared with the 25 basis point reduction for the benchmark funds rate.The Fedread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Stocks traded lower on Wednesday as traders digested the Federal Reserve's latest decision on U.S. monetary policy.US Marketsread more
This is a comparison of Wednesday's FOMC statement with the one issued on July 31 after the Fed's previous policymaking meeting.The Fedread more
Ahead of the Fed's 2 p.m. announcement, many economists were forecasting one further cut in 2019, but some investors were hoping for two more this year.The Fedread more
The Fed has become increasingly divided, with three officials voting against the Fed's quarter-point cut to the fed funds target rate range.Market Insiderread more
For consumers, lower rates do mean cheaper loans, which can impact your mortgage, home equity loan, credit card, student loan tab and car payment. n the flip side, you'll earn...Personal Financeread more
Gold edged lower on Wednesday but held about the key $1,500 per ounce level after the U.S. Federal Reserve decided to cut interest rates.Futures & Commoditiesread more
As the Federal Reserve lowers rates, some banks are pulling back their offerings on their savings accounts and certificates of deposit. Even so, they are still pretty good by...Personal Financeread more
He's sold more than $1 billion of cars over the past seven years. He's the nation's largest dealer of new and used Lamborghini supercars. He's been the nation's largest Audi deal for three years running. And he's only 26.
Meet Brett David, the boy wonder of supercar sales.
As the CEO of Prestige Imports in Miami, David oversees one of the fastest-growing dealerships in the country. And while most dealers rely on tacky TV spots and newspaper ads, David has taken a different route. He relies on social media, the Internet, celebrity clients and highly unusual marketing tools, including a gold-plated Lamborghini.
(Read more: They built what? 5 shockingly expensive replicas)
"I try to think creatively about marketing," he said. "It's really about building a brand."
One of his most successful brand tools has been the "AU79 Project," a gold-plated Lamborghini Aventador that David drives every day to work.
"I want to show people that these are great cars to drive every day, even a gold one," he said. "I drive it every day and I love it."
The AU79 also has legions of followers around the world on Twitter and Facebook.
Before the AU79 was the "Sharpie" Lamborghini, a Gallardo colored with a Sharpie by graffitist Jona Cerwinske.
(Read more: Amazing supercar experiences)
David took over the dealership when he was 19, after his father, the owner, died of a sudden heart attack. Although his father didn't plan to leave him the business, David fought for control and has now expanded it to several times its previous size.
Brett and other Lamborghini dealers have had a banner year. Lamborghini's North America sales were up 54 percent in 2012 and are on track to continue growing in 2013. The company's Aventador model has a waiting list of more than 12 months at many dealerships, despite a price tag that starts at $400,000.
As for Brett David's expansion plans and new projects, he remains coy.
"I have a few big things planned, but nothing I can talk about quite yet."
You can watch more of Brett David's wild ride in the world of supercars—including how he sold his first Lambo to rapper Missy Elliott—on "Secret Lives of the Super Rich."
—By CNBC's Robert Frank. Follow him on Twitter: @robtfrank.
"Secret Lives of the Super Rich"
An all-new series airing Wednesdays at 9 p.m. ET/PT. |http://superrich.cnbc.com