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
Scores of charities are providing assistance to help people devastated by the magnitude-7.8 earthquake that hit Nepal on Saturday.
But how can you be sure your donation will make a difference?
"You need to do your homework," said Sandra Miniutti of Charity Navigator, which rates nonprofit organizations on a four-star scale based on their financial condition and board governance policies. "We are working on how to evaluate charities based on their impact in our ratings methodology, but we think that if a charity is in good financial shape and is transparent, it will have the resources to carry out its mission well."
Charity Navigator identified 11 nonprofits that have a three- or four-star rating and allow people to designate their donations to go specifically to earthquake relief in Nepal.
Jacob Harold, president and CEO of GuideStar, a company that maintains of a database of 2.2 million IRS-recognized nonprofits, recommends people who want to immediately support earthquake relief efforts in Nepal donate to GlobalGiving. The nonprofit is an online marketplace that connects people who want to give cash to international causes. GlobalGiving has received top accolades from the Better Business Bureau, Charity Navigator and GuideStar
"It's usually better to give money than stuff after a disaster because it gives charities more flexibility to address the immediate needs of the affected communities," Harold said.
The rush of charitable contributions after a disaster is helpful, but Nepal and other regions hurt by catastrophes may need financial support for years, said Bob Ottenhoff, president and CEO of the Center for Disaster Philanthropy.
"Earthquakes are more complicated than most disasters because they often strike without warning and require rebuilding of major infrastructure," he said. The center has set up a fund to focus on long-term recovery projects in Nepal.
"There is this intense interest now, but people tend to forget about the area once the cameras go away," Ottenhoff said.