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
Brazil's unemployment rate rose to 11.3 percent in the second quarter, statistics agency IBGE said on Friday, hitting a four-year high as Latin America's largest economy struggles with a crippling recession.
The jobless rate was in line with the median forecast of 15 economists surveyed by Reuters. In a sign that Brazil's labor market faces even tougher times, most economists surveyed in a separate Reuters poll expect the unemployment rate will not start falling until 2018.
Brazil's jobless rate has risen sharply from 6.5 percent at the end of 2014 as the country entered its worst recession in decades. The IBGE reworked Brazil's labor market series in early 2012.
The economy, which contracted nearly 4 percent last year and is expected to shrink more than 3 percent this year, shed 91,032 jobs in June. The unemployment rate is expected to rise further as companies continue to lay off workers amid plummeting demand.