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
Powell said on Wednesday that the Fed may have to resume regular balance sheet growth to help ease liquidity markets.The Fedread 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
Federal Reserve Chairman Jerome Powell pledged that the central bank would engage in a "sequence" of interest rate cuts if conditions warrant, but he doesn't see that as...The Fedread 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
The Federal Reserve cut rates Wednesday by 25 basis points to a range of 1.75% to 2.00%.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
Facebook said roughly 10 million people saw advertisements bought by Russian groups trying to influence the 2016 U.S. election, the first time the company has shared the reach and potential impact of such ads.
Facebook also said it's "possible" that there are more such ads that it hasn't yet found.
The company released the details on some 3,000 ads the same day they sent them to Congressional committee members in the House and Senate, who are looking at how Russian agents tried to sway last year's Presidential election.
Some of the ads were paid for in Russian currency, Facebook said in a statement.
The company has been asked to appear at public hearings by three different committees in coming weeks to give details on the Russian ad campaign, which highlighted hot-button, divisive issues such as race to try and sway voters.
Facebook admitted in its statement there are limits to its ability to stop people from using its site to undermine democracy.
"Even when we have taken all steps to control abuse, there will be political and social content that will appear on our platform that people will find objectionable, and that we will find objectionable. We permit these messages because we share the values of free speech," the company's statement said.
Facebook has faced mounting criticism in Washington about its response to the propaganda and misinformation Russia-based organizations placed on its site.
Senator Mark Warner, the ranking Democrat on the Senate Intelligence Committee, has said he intends to introduce a bill that will remove an exemption for online political ads that have previously shielded their buyers from public scrutiny.
CEO Mark Zuckerberg late last year had said it was "crazy" to think that the site he founded was used that way.
On Sept. 21, however, Zuckerberg apologized for that comment and said the company was committed to stopping foreign governments from influencing U.S. elections.
"Now, I wish I could tell you we're going to be able to stop all interference, but that wouldn't be realistic. There will always be bad people in the world, and we can't prevent all governments from all interference. But we can make it harder. We can make it a lot harder. And that's what we're going to do," Zuckerberg said in his post last month.