Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Federal Reserve Chairman Jerome Powell said the he does not see the Fed using negative interest rates in the future.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
President Barack Obama spoke at an event in San Francisco on Wednesday hosted by software company Splunk and addressed how tech can help solve problems.Technologyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle, Washington. While there, he's scheduled to meet with Boeing executives and...Airlinesread more
Steve Dowling, the head of Apple's public relations department, announced he will be leaving this week.Technologyread more
Tracy Britt Cool is leaving the firm after a decade to start a company that replicates Warren Buffett's business model, the Wall Street Journal reported.Marketsread more
Stocks closed little changed after the Federal Reserve failed to signal it will cut rates again in 2019, disappointing traders.US Marketsread more
A New York-based blockchain consulting firm allegedly extorted a Seattle-based crypto start-up with threats to hijack its initial coin offering, in a case announced Wednesday...Technologyread more
According to a report in the Wall Street Journal, WeWork co-founder Adam Neumann has floated the idea of becoming Israel's prime minister or leader of the world.Technologyread more
U.S. home building jumped in February likely as unseasonably warm weather boosted the construction of single-family houses to near a 9-1/2-year high, suggesting the economy remained on solid ground despite an apparent slowdown in the first quarter.
Other data on Thursday showed a drop in the number of Americans filing new applications for unemployment benefits last week, pointing to a further tightening in the labor market.
The fairly upbeat data came a day after the Federal Reserve raised interest rates for the third time since the 2008 financial crisis. Fed Chair Janet Yellen told reporters that the U.S. central bank was sending a message that "we have confidence in the robustness of the economy and its resilience to shocks."
Housing starts increased 3.0 percent to a seasonally adjusted annual rate of 1.29 million units last month, the Commerce Department said. Economists had forecast groundbreaking activity rising to a rate of 1.26 million units.
Home building was up 6.2 percent compared to February 2016.
Single-family home building, which accounts for the largest share of the residential housing market, surged 6.5 percent to a pace of 872,000 units last month, the highest level since October 2007. Single-family starts rose in the West, Northeast and Midwest, but fell in the South.
Starts for the volatile multi-family housing segment fell 3.7 percent to a pace of 416,000 units.
A robust labor market is supporting the housing market, helping it to buck weakness in other parts of the economy.