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
Markets are now anticipating a more hawkish tone from the Fed, but maybe not from Fed Chair Janet Yellen when she addresses the annual Jackson Hole symposium Friday.
Against the backdrop of the Grand Tetons in Wyoming, the Fed gathers Thursday and is expected to debate the health of the labor market. Minutes released Wednesday from the Fed's July meeting showed that officials discussed raising interest rates sooner, but they continue to disagree on how much the labor market is improving.
Stocks rose after the minutes were released, and the dollar and yields on shorter duration bonds also rose, as traders anticipated a Fed moving to hike rates. The Fed is in the process of unwinding its quantitative easing bond program, and is widely expected to move on raising rates in the middle of next year.