The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
The Organization of the Petroleum Exporting Countries (OPEC) slashed its oil supply forecast for Russia next year and said continued geopolitical uncertainty was limiting its prospects for economic growth.
OPEC, which represents oil-exporting nations, now forecasts Russia will supply 10.51 million of barrels of oil per day (mb/d) on average in 2015, down from the 10.53 million it predicts for 2014.
It also lowered Russia's GDP growth forecast to 0.3 percent in 2014 and 1.1 percent in 2015.
"Continued geopolitical uncertainty is increasingly limiting the prospects for economic growth, amid currency depreciation, high inflation and poor growth in retail sales. The expected second round of EU economic sanctions would make faster GDP growth even less likely," OPEC said in its monthly oil market report published on Wednesday.
On Monday, the EU adopted fresh sanctions against Russia, including restrictions on the country's large state-owned oil companies operating in Europe. However, the penalties are yet to be imposed, as officials wait to see if the cease-fire agreed between Russia and Ukraine on Friday will hold.
Russia has become a major player in oil and gas imports, with the energy sector accounting for around 25 percent of its GDP. The county is the principle source of energy for the EU, with Norway its nearest competitor.