The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
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
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread 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
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread 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
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
With the Federal Reserve deciding not to cut interest rates but leaving the door open for future cuts, experts are split on what comes next.Trading Nationread more
President Donald Trump on Wednesday urged Republican senators to push through a last-ditch attempt to repeal the Affordable Care Act before the end of the month.
In a tweet, the president for the first time explicitly endorsed the health-care plan spearheaded by Sens. Lindsey Graham, R-S.C., and Bill Cassidy, R-La. The senators are rushing to pass the bill before a Sept. 30 deadline to use budget rules that would allow them to approve it with only Republican votes.
The health-care bill sets up a block grant system to allot money to the states. Many of them are expected to see less federal funding under the plan than they currently get.
"I hope Republican Senators will vote for Graham-Cassidy and fulfill their promise to Repeal & Replace ObamaCare. Money direct to the States!" Trump wrote on Twitter.
The senators backing it say it will give states more control over their health care rather than the federal government. It faces a tough fight and potentially razor-thin margin in the Senate.
Critics have expressed concerns that it will drastically increase the number of uninsured Americans and lead to fewer financial protections for people with pre-existing conditions. Ten bipartisan governors have urged the Senate not to pass the plan, while numerous major health-care groups have criticized the bill.
In addition, the nonpartisan Congressional Budget Office will not have the time to estimate the plan's effects on insurance coverage and premiums before the Senate would vote on it.
If three Republican senators oppose the plan, it will fail. Multiple attempts to repeal Obamacare already failed in the Senate earlier this year amid GOP opposition.
Sen. Rand Paul, R-Ky., has repeatedly stated he will not support the plan. He says he wants a bill that goes further to repeal Obamacare.
Trump lambasted Paul on Twitter over his opposition.
On Wednesday, Paul tweeted that he is "currently working with the president to finalize" a "better replacement with cross state purchase of inexpensive insurance."
Focus has turned to Sens. Susan Collins, R-Maine, Lisa Murkowski, R-Alaska, and John McCain, R-Ariz., who voted against the last GOP attempt to overhaul the health-care system. While Collins has suggested she has problems with the Cassidy-Graham plan, neither Murkowski nor McCain have given a clear sense of where they stand. McCain, a friend of Graham, cast the vote that killed the previous repeal attempt.