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 woman says the abuse by Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, began when she was just age 14 or younger.Politicsread 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
The Federal Reserve cut rates Wednesday by 25 basis points to a range of 1.75% to 2.00%.The Fedread 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
The Air Force's newly minted U.S. Space Command general said that he has recently met with billionaire space race investors Elon Musk, Jeff Bezos and Richard Branson.Investing in Spaceread more
Jim Cramer said Tuesday that Pfizer is setting itself up to split with the creation of its Pfizer Innovative Health and Pfizer Essential Health.
The biopharmaceuticals company released its second-quarter earnings Tuesday at 64 cents per share, beating analysts estimates of 62 cents per share. Its revenue came in at $13.1 billion, edging past expectations for $13 billion.
"I think this is a nice prep," he said.
The drugmaker did not offer hints on whether it will split in its earnings report, but after Pfizer ended its acquisition of Botox-maker Allergan in April, the company put the idea back on the table.
CEO Ian Read said in April he would reach a decision by the end of 2016 on whether to break up the company.