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
The Brewers Association released Tuesday its mid-year update on the craft beer business and while craft remains one of the bright spots in the U.S. beer business, the double-digit momentum from previous years is gone.
The Brewers Association reported a production volume increase of 8 percent for the first half of 2016, down from the 16 percent reported for the same period last year, and the 18 percent gain reported for the first half of 2014. For the year-end 2015, the group reported a 13 percent rise in volume.
"While the craft brewing industry is entering a period of maturation, most markets are not near saturation," said Bart Watson, chief economist, Brewers Association in a release. "As craft's base gets larger, as with any industry, it becomes more difficult for it to grow at the same percentage rate."
One area still running a breakneck pace: the number of breweries operating in the United States. The Brewers Association reports a record number of 4,656 breweries in operation as of June 30, an increase of 387 over the end of 2015, and 917 more than this time last year. Another 2,200 breweries are in planning.