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
U.S. government debt prices were mixed on Tuesday as investors were also preparing for more remarks out of leading central banks, while digesting weaker-than-expected consumer data and a sale of two-year notes.
The Treasury Department auctioned $26 billion in two-year notes at a high yield of 0.855 percent on Tuesday.
The bid-to-cover ratio, an indicator of demand, was 2.53, below a recent average of 2.81.
Indirect bidders, which include major central banks, were awarded 33.7 percent, well below a recent average of 45 percent. Direct bidders, which include domestic money managers, bought 10.1 percent, also well below a recent average of 18 percent.
The yield on the benchmark 10-year Treasury note sat lower at around 1.757 percent, while the yield on the 30-year Treasury bond was also down at 2.4987 percent. Two-year notes, however, rose to yield 0.8564 percent. Bond yields move inversely to prices.
Central banks from across the globe will set the stage for bond markets on Tuesday, with speeches expected to be of key interest. In the U.S., Atlanta Federal Reserve President, Dennis Lockhart is set to speak at the Opportunity Finance Network Conference in Atlanta, scheduled for the early afternoon.
Meanwhile in Europe, Bank of England Governor Mark Carney said he would not be swayed by political issues while deciding whether to extend his stay at the central bank beyond his scheduled departure in 2018. Carney also said that he did not think Prime Minister Theresa May was proposing a change in the way monetary policy is set when, earlier this month, she criticized the "bad side effects" of low interest rates and the BoE's QE program.
In economic news, consumer confidence hit 98.6, with economists polled by Reuters expecting confidence to hit 101.5. Meanwhile, U.S. home prices rose slightly in August from July, with the S&P CoreLogic Case-Shiller 20-City Composite index gaining 5.1 percent year over year.
Meanwhile crude slipped on Tuesday, as comments from OPEC members regarding chances of an output cut kept the market on edge, Reuters reported. U.S. West Texas Intermediate crude futures last stood around $50.12 per barrel, while Brent hovered around $51.04.
— Reuters contributed to this report.