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
While acknowledging the China Mobile partnership is a "big deal" for Apple, he said Google-Nest exemplifies the "amazingly strong integrated strategy that Google has to connect all of our devices, all of our lives, from our car, to our navigation system, to how our garage doors are going to open."
The Nest portfolio of smart thermostats and fire detectors will be added to Google's gee-whiz tool shed of giant robots, self-driving cars and Google Glass.
Isaacson also pointed out that Nest co-founder and CEO Tony Fadell will be joining Google as part of this deal. "Fadell was one of the team that created the iPod. He was very deep into the Apple culture ... when Apple was so innovative."
To play catch-up, Cook has to think about what industry he wants to disrupt next, Isaacson said. "I think Steve Jobs would have wanted as the next disruptive thing to either have wearable-like watches or TV, an easy TV that you can walk into the room and say put on 'Squawk Box' … or disrupt the digital camera industry or disrupt textbooks."
"We ought to see in 2014, Apple do something huge," Isaacson said.
Daniel Ernst, principal at tech-focused Hudson Square Research, agreed: "For the last two years, Cook continues to hint … there are things we do that we have expertise in that would lend itself to other categories that we're not in."
"Let's give them the whole calendar year," Ernst said. "But I think that the unanimous answer among Apple investors is that this better be the year. There's only so long the boy can cry wolf."
Cook also needs to fully seize the company, Isaacson said. "In the late February shareholders meeting, they probably have to start thinking about who should be on the board next. This board is all Steve Jobs' people. They aren't exactly the Tim Cook fan club."