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
Microsoft announced that it will rebuild its iconic Redmond campus in a project that will take between five and seven years to conclude and will make room for 8,000 new employees.
"At a time when space is at a premium and many companies are looking for room to grow, we recognize that our 500-acre campus in Redmond, Washington, is a unique asset," Brad Smith, the president of Microsoft, said on the company's blog on Tuesday evening.
The project will add 18 new buildings, 6.7 million square feet of renovated workspace and $150 million in transportation infrastructure improvements, public spaces, sports fields and green space.
"When this project is complete, our main campus will be comprised of 131 buildings — including the equivalent of 180 football fields of new and renovated space — of modern workspace for the 47,000 employees who work here every day, plus room to expand operations and add up to 8,000 more people," Smith also said in the post.
The transformation at Redmond — where the company has been for 30 years — will include retail and sports facilities, including soccer and cricket spaces, which will also be available to those living nearby.