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
Attorney General Jeff Sessions confirmed part of James Comey's testimony from last week about an abruptly private meeting at the president's desk between Donald Trump and the former director of the FBI.
Sessions testified on Tuesday that he and others filed out of the room and left Comey alone with Trump following a group meeting in February. The FBI was at the time investigating former National Security Advisor Michael Flynn's links to the Kremlin.
Last week, Comey testified that Trump asked everyone except him to leave the room before Trump allegedly said to him, "I hope you can see your way clear to letting this go, to letting Flynn go. He is a good guy. I hope you can let this go."
Sessions told the Senate Intelligence Committee that the day after that meeting, Comey expressed "concern" to him about being left alone with the president, but that Comey did not reveal any details of the meeting.
However, Sessions said he affirmed Comey's concerns and directed Comey not to hold any conversations about any investigation "in a way that was not proper."
"I felt he was so long in the department," and as a former deputy attorney general, Comey "knew those policies probably a good deal better than I did," Sessions said.
Sen. Marco Rubio asked Sessions to state explicitly whether Trump asked everyone else to leave the Oval Office and asked Comey to stay behind. Sessions said that was "a communication in the White House" that he "would not comment on."
Rubio asked him whether he remembered seeing Comey stay behind, to which Sessions replied, "Yes."
In a written testimony, Comey characterized Sessions as "lingering" when Trump allegedly asked everyone except Comey to leave. Sessions, however, would not confirm Comey's account when Rubio asked him to, only saying he remembered being one of the last people to leave.
"I left," Sessions said. "It didn't seem to me to be a major problem. I knew that director Comey, long-time experienced in the Department of Justice, could handle himself well."
Watch: Sessions confirms key parts of Comey testimony