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
President Barack Obama urged Americans on Saturday not to see the country as being riven into opposing groups, seeking to soothe raw emotions after an attack that killed five policemen in Dallas and the high-profile police shootings of two black men in Minnesota and Louisiana.
"First of all, as painful as this week has been, I firmly believe that America is not as divided as some have suggested," Obama said.
"Americans of all races and all backgrounds are rightly outraged by the inexcusable attacks on police, whether it's in Dallas or any place else," he said, speaking at a news conference during a trip to Poland. "That includes protesters. It includes family members who have grave concerns about police conduct, and they have said that this is unacceptable."
Authorities have named former U.S. Army reservist Micah Johnson as the lone gunman in Thursday night's attack in Dallas, which came at the end of a rally to protest against police killings. They said he had embraced militant black nationalism and expressed anger over police shootings and a desire to "kill white people, especially white officers."
"The demented individual who carried out those attacks in Dallas, he's no more representative of African-Americans than the shooter in Charleston was representative of white Americans or the shooter in Orlando or San Bernardino were representative of Muslim-Americans," Obama said, referring to a string of mass shootings in the past year.
The attack in Dallas also wounded seven other officers and two civilians. Johnson, 25, was killed by a bomb-carrying robot deployed against him in a parking garage where he had holed up and refused to surrender during hours of negotiations with police, authorities said on Friday.
Obama, while saying there was a "persistent problem of African-Americans and Latinos being treated differently in our criminal justice system," stressed he did not believe the country was descending into the polarization seen in the sometimes violent civil rights struggles of the 1960s.
He cited almost uniformly peaceful protests against police killings, and police handling the protests with professionalism.
The rally in Dallas followed the fatal police shootings of Philando Castile, 32, near St. Paul, Minnesota, on Wednesday, and Alton Sterling, 37, in Baton Rouge, Louisiana, on Tuesday.