Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
The stream is slated to start at 2:30 pm ETThe Fedread more
This is a comparison of Wednesday's FOMC statement with the one issued on May 1 after the Fed's previous policy-making meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
Federal Reserve Chairman Jerome Powell said the case for a rate cut at central bank's Wednesday meeting is not strong enough.The Fedread more
If you're concerned about what Wednesday's Fed decision means for your bank account, mortgage loan or credit card — as well as student debt, home equity loan and car payment —...Personal Financeread more
The Federal Open Market Committee's quarterly economic forecast includes the so-called dot plot of where members see interest rates heading.The Fedread more
Employees spoke out on issues such as forced arbitration, workplace equity and Project Dragonfly at Alphabet's annual shareholder meeting.Technologyread more
The Federal Reserve lowered its inflation forecast for 2019 while keeping the growth expectations unchanged.The Fedread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Former interim Yahoo CEO Ross Levinsohn said Wednesday that Twitter needs to be a part of something bigger so that it can thrive under the wing of a technology giant.
Twitter would solve Apple's problem of creating a more news-oriented platform for its users, he said. For Google, it would create a Google-YouTube-Twitter media trifecta that would excite consumers, he added.
With Twitter's market capitalization at more than $17 billion, the purchase would likely come in at around $20 billion, something that potential contenders like Salesforce, at $45 billion, cannot necessarily afford, especially when it comes to a "damaged" asset like Twitter, Levinsohn said.
Levinsohn called Dorsey "a brilliant guy" but said that with both Square and Twitter on his plate, it would be exceedingly difficult to strike an effective balance.
"I think it's virtually impossible to run two companies. And both are very, very different and both are very, very challenged. And that's not to say there's anything wrong with Twitter," Levinsohn added. He said it simply takes a "different kind of environment" to help grow a media company going through the growth pains Twitter is experiencing.
That environment, according to Levinsohn, involves a focused approach to the company's initiatives and faster innovation. He said the company has faced challenges in driving product cycles to be quicker.
"It's OK to fail, it's not OK to fail slowly," he said.
And, he added, a company like Twitter — which delivers news so quickly 24 hours a day, has been used by millions as their primary source of news and has proven itself a tool for political candidates — needs to move forward with a formidable power source behind it.
"If I were Google and bought it, I would very much leave it as a stand-alone business to run, but I'd give it all the might and muscle that Google can bring to bear," Levinsohn said.