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
The Federal Reserve dialed up its growth expectations slightly while keeping its inflation projection unchanged.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
WHEN: TODAY, THURSDAY, OCTOBER 17TH
WHERE: CNBC'S "STREET SIGNS"
Following is the unofficial transcript of breaking news from CNBC's Kate Kelly. All references must be sourced to CNBC.
KATE KELLY: I HAVE SOME NEW DETAILS ON SAC, THE HEDGE FUND, SETTLEMENT TALKS WITH THE SOUTHERN DISTRICT OF NEW YORK – THE JUSTICE DEPARTMENT ARM THAT HAS BEEN PURSUING THEM FOR INSIDER TRADING. I'M TOLD TALKS ARE MAKING INCREMENTAL PROGRESS AND IN FACT, WE COULD POTENTIALLY SEE A DEAL AS EARLY AS THE END OF OCTOBER THAT THE FINE CURRENTLY BEING DISCUSSED IS IN THE REALM OF $1.5 BILLION. ALTHOUGH A KEY ISSUE IS WHETHER OR NOT A PRIOR SETTLEMENT THAT SAC ALREADY PAID WOULD BE DEDUCTED FROM THAT. I'M TOLD THAT SAC BECOMING A FAMILY OFFICE IS ACTUALLY NOT SOMETHING CURRENTLY ON THE TABLE AS PART OF THESE DISCUSSIONS, ALTHOUGH IT IS A LINGERING ISSUE IN GENERAL. AND PERHAPS IN A NOD TO THAT, FOUNDER STEVE COHEN IN THE LAST FEW YEARS AND ESPECIALLY THIS YEAR, HAS ACTUALLY DOWNSIZED THE SIZE OF HIS OWN PERSONAL TRADING BOOK, MANDY AND BRIAN. SO KIND OF AN INTERESTING DEVELOPMENT THERE AND I'M TOLD HE LIKES TO BE PREPARED FOR ANYTHING. THEY REORGANIZED THE FIRM AWHILE AGO, BUT NOW OBVIOUSLY, THERE ARE SOME LEGAL ISSUES TO THINK ABOUT AS WELL.
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