Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread 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 money markets.The Fedread more
The Dow Jones Industrial Average erased a 211-point drop as investors digested the latest monetary policy announcement by the Federal Reserve.US Marketsread more
A New York-based blockchain consulting firm allegedly extorted a Seattle-based crypto start-up with threats to hijack its initial coin offering, in a case announced Wednesday...Technologyread more
According to a report in the Wall Street Journal, WeWork co-founder Adam Neumann has floated the idea of becoming Israel's prime minister or leader of the world.Technologyread more
Amazon is launching a new feature that allows presidential candidates to receive campaign contributions through the Alexa voice assistant.Technologyread more
The woman says the abuse by Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, began when she was just age 14 or younger.Politicsread 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
"You may not agree with him," said Ma, the billionaire executive chairman of the Chinese e-commerce behemoth. But he urged people to give Trump a chance. "You can never achieve something within one year."
"At least he's trying," Ma added in an interview on "Squawk Box."
Throughout his presidential campaign, Trump railed that China was stealing U.S. jobs as he promised to keep work in America. Candidate Trump also vowed to call China a currency manipulator on his first day in office. But as president, Trump has been rather cozy with China, meeting President Xi Jinping in Beijing and in the U.S.
When asked whether the China is taking jobs, Ma said, "China is not stealing jobs; we are creating a lot of jobs." Earlier this year, Ma met with then-President-elect Trump and promised to bring 1 million small U.S. businesses onto its platform.
"A lot of companies succeed in China. Starbucks did excellent in China," said Ma.