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
Two U.S. Democratic lawmakers on Tuesday introduced legislation in the Senate and the House of Representatives to ban deals where Web content companies could pay Internet service providers to deliver their traffic to users faster and more reliably.
The bicameral bill by Senate Judiciary Committee Chairman Patrick Leahy of Vermont and Representative Doris Matsui of California comes as the Federal Communications Commission is collecting public comments on new "net neutrality'' rules.
Read MoreWhat is netneutrality?
The FCC's proposed rules, up for public comment until September 10, prohibit Internet providers from blocking or slowing down access to websites but may let them charge content companies to prioritize their traffic as long as such deals are deemed "commercially reasonable.''
The proposal, however, also seeks comment on whether all or some such pay-for-priority deals should also be banned.
Leahy's and Matsui's bill would require the FCC to prohibit such agreements for paid prioritization on the so-called "last mile,'' the part of the network that goes from the Internet service providers to the consumer.
"Americans are speaking loud and clear—they want an Internet that is a platform for free expression and innovation, where the best ideas and services can reach consumers based on merit rather than based on a financial relationship with a broadband provider,'' said Leahy, who plans to hold a field hearing on net neutrality in Vermont next month.
Read More Boom! Net neutrality takes a body blow
The legislation would not apply to so-called interconnection deals, like the ones that have triggered a spat between Netflix, Comcast and Verizon Communications. The FCC is reviewing such deals but has not historically regulated them.
Experts have disputed how much authority the FCC has to prohibit discrimination involving traffic. Its previous set of net neutrality rules was rejected in January by an appeals court in a case brought by Verizon.
Comcast, through a condition placed on its purchase of NBC Universal in 2011, is now the only company bound by the earlier version of the rules, which allowed "commercially reasonable'' discrimination of traffic, but signaled that potential pay-for-priority deals would "raise significant cause for concern.''
— By Reuters