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
Powell said on Wednesday that the Fed may have to resume regular balance sheet growth to help ease liquidity markets.The Fedread more
Stocks fell on Wednesday after a divided Federal Reserve failed to signal easier monetary policy later this year, disappointing traders.US Marketsread more
Amazon is launching a new feature that allows presidential candidates to receive campaign contributions through the Alexa voice assistant.Technologyread more
The Federal Reserve dialed up its growth expectations slightly while keeping its inflation projection unchanged.Marketsread more
Federal Reserve Chairman Jerome Powell pledged that the central bank would engage in a "sequence" of interest rate cuts if conditions warrant, but he doesn't see that as...The Fedread 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
The Federal Reserve cut rates Wednesday by 25 basis points to a range of 1.75% to 2.00%.The Fedread more
A daily morning look at the financial stories you need to know to start the day
-Stock futures are higher this morning after yesterday's new all-time high close for the S&P 500.
-The yield on the 10-year Treasury note has rebounded to 1.48%.
-Crude prices are up 2% to the $45/barrel level.
-Gasoline prices fell another penny overnight to $2.22/gallon, national average.
-A Hague tribunal has ruled China's economic South China Sea claims are unfounded. This is a win for the Philippines and US policy.
-Hillary Clinton's lead over Donald Trump is down to three percentage points in the latest NBC News poll. It was a five point lead last week.
-Bernie Sanders will campaign with and endorse Hillary Clinton today.
-President Obama is calling for a government-run public option within the Affordable Care Act.
TOO BIG TO JAIL?
-A new Congressional report says the Justice Department chose to settle a money laundering case with HSBC because it thought it was essentially too much of a risk to the financial system to prosecute the bank.
-The SEC is reportedly probing Tesla for not reporting the deadly crash of one of its cars in autopilot mode quickly enough.
CAR LOAN FEARS
-Top US regulators are voicing concerns about the explosion of riskier and more expensive car loans.
-The US Chamber of Commerce says California's too many labor regulations and "worker protections" are hurting the state's economy.
-Iranian gun boats came provocatively close to a US warship in the Straits of Hormuz yesterday.
-The robot used to kill the Dallas cop killer is made by Northrop Grumman. It sells for $151,000.
-Raytheon CEO Thomas Kennedy says Iran and ISIS are fueling increased demand for his company's missile systems. He expects revenues from that division to grow 3% to 5% this year to near the $25 billion mark.