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 to 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
Reports that Emirates Airline was poised to sign a $30 billion 100-jet deal with Boeing drew a swift refusal to comment from the carrier on Monday.
"We do not comment on speculation," an Emirates Airline spokesperson told CNBC when asked about the story in the Financial Times.
The FT cited the firm's chief executive officer, Tim Clark, as confirming advanced negotiations for the Boeing 777X, but only "a source familiar with the discussions" on details of the deal. According to the newspaper, the final number could be between 100 and 175, with 100 "more likely". More long-range Airbus planes were also being considered, while amendments to an existing order of Airbus A350s remained an option.
A $30 billion order would be the largest passenger jet order in Boeing's history, topping the previous record of $22.4 billion with Lion Air in 2012. The Boeing 777X will be an upgrade to the popular 777, building on the industry trend of more fuel-efficient engines. It would gradually replace the Dubai carrier's existing 777 fleet from 2020 onwards.
Emirates Airline is already the world's largest operator of the Boeing 777 and the Airbus A380. The airline is expected to make a major announcement at the upcoming Dubai Airshow, especially since the event is being held at the new . Analysts also expect Etihad Airways of neighboring Abu Dhabi, the flag-carrier of the United Arab Emirates, to also announce an order soon — November 12 marks the 10th anniversary of the airline's maiden flight.