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
You might have heard: The House finally did it. They passed the American Health Care Act, 217 to 213.
Now it's the Senate's turn.
The House plan is going to run into a lot of land mines in the upper chamber, as I reported today — though top senators are saying they will write their own bill.
More from Vox:
The many obstacles awaiting the Republican health care bill in the Senate
4 winners and 4 losers from the Republican vote to replace Obamacare
Republican senators don't like the AHCA's Medicaid cuts. They're worried about the consequences for people with high medical costs. A few of them oppose defunding Planned Parenthood, as the House bill does. We have a long way to go.
There are fewer lawmakers to keep track of in the Senate, thank goodness. Senate Majority Leader Mitch McConnell and key committee chairs Lamar Alexander and Orrin Hatch will play a big role, of course.
Here are the other senators you should be watching:
Susan Collins of Maine: Collins opposes defunding Planned Parenthood and told me this week she's worried about how people with preexisting conditions would be affected by the House bill.
Rob Portman of Ohio: Portman spearheaded a letter in early March criticizing the initial House bill for its Medicaid cuts. He is working on an amendment to change the Medicaid expansion phaseout, though we don't yet know how.
Lisa Murkowski of Alaska: Murkowski signed the Portman letter, opposes defunding Planned Parenthood, and is worried that the House bill could uniquely harm her home state.
Shelley Moore Capito of West Virginia: Capito also signed the Portman letter. She told me this week she still has issues with the AHCA's Medicaid cuts.
Cory Gardner of Colorado: The fourth signer of the Portman letter.
Bill Cassidy of Louisiana: Cassidy has been an enthusiastic participant in the early days of the health care debate. He drafted a bill with Collins that would let states decide whether they wanted to stick with Obamacare or create their own health care program.
Dean Heller of Nevada: Heller said after the House vote that he would not support the bill as written over his concerns about the Medicaid cuts and its effect on people with preexisting conditions, as my colleague Jeff Stein reported. He is also already facing attacks from Democrats because the House bill defunds Planned Parenthood.
Tom Cotton of Arkansas: Cotton is a staunch conservative, but his state expanded Medicaid through Obamacare, and he has signaled he wants to see people covered by the expansion
Rand Paul of Kentucky: Paul was a fierce critic of the original House bill, even leading reporters on a romp through the Capitol to find it after House leaders refused to release the text.
Mike Lee of Utah: Lee, like Paul, attacked the original version of the House bill from the right. Whether he was satisfied by the changes to the bill that won over House conservatives, or whether he pushes for more, will be an important question.