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
President Trump is set to announce today that the U.S. will recognize Jerusalem as the capital of Israel and will move the embassy there, senior administration officials said. The officials said the embassy move could take "years." (CNBC)
* Why declaring Jerusalem as Israel's capital may upend peace in Middle East (USA Today)
Donald Trump Jr. asked a Russian lawyer at last year's Trump Tower meeting whether she had evidence of illegal donations to the Clinton Foundation, the lawyer told Senators, according to NBC News. Trump Jr. lost interest after she said she did not have dirt, the lawyer says.
The special counsel's office spent $3.2 million in its first four months probing ties between Trump's top advisors and Russia, according to the Department of Justice. The greatest expense was for the temporary reassignment of Justice Department employees. (CNBC)
GOP Sen. Jeff Flake posted a photo of a check from him for $100 made out to "Doug Jones for U.S. Senate," the Democrat running against Republican Roy Moore in the Alabama special election. Flake wrote "Country over Party" in the memo line. (CNBC)
* Trump ally Bannon campaigns for Moore in Alabama (Reuters)
The Trump administration is proposing reversing an Obama-era restriction on tip-pooling in restaurants. The rule allows employers to combine servers' tips and share them with the back of the house employees who don't get tips. (Axios)
A plot to assassinate Prime Minister Theresa May has been foiled, a U.K. news outlet reports. Police reportedly believe that the plan was to launch some sort of explosive device at May's residence and, in the ensuing chaos, attack and kill May.
Wind-driven fires tore through California communities this morning for the second time in two months. The fires, most damaging northwest of Los Angeles, left hundreds of homes feared lost and uprooted tens of thousands of people. (AP)
A U.S. B-1B bomber today joined large-scale U.S.-South Korean military exercises that North Korea has denounced. The drills come a week after North Korea said it had tested its most advanced intercontinental ballistic missile. (Reuters)
Most people would be better served using Samsung's newest phones rather than Apple's (AAPL) iPhone X, according to Consumer Reports. Consumer Reports scores the Samsung Galaxy S8, Galaxy S8+, iPhone 8 Plus and iPhone 8 highest in its rankings. (CNBC)
* Apple's Cook optimistic that apps pulled in China will be back (Reuters)
In the latest Silicon Valley feud, Alphabet's (GOOGL) Google says it will block its video streaming application YouTube from two Amazon.com (AMZN) devices and criticized the online retailer for not selling Google hardware. (Reuters)
Dave & Buster's (PLAY) reported third-quarter earnings that beat Wall Street's estimates but missed on revenue. The restaurant and entertainment business also said comps were down 1.3 percent during the quarter and sees 2018 revenues in "low double digits."
Home Depot (HD) announced a $15 billion share repurchase plan. The largest U.S. home improvement chain also set a target to grow annual sales to between $114.7 billion and $119.8 billion by the year ending January 2021.
Due to a surge in holiday online shopping orders during the peak shipping period, United Parcel Service (UPS) says some deliveries will be delayed. The company has now shifted some employees and resources to certain markets.
Apple (AAPL) Chief Executive Tim Cook says he's optimistic that some of its apps pulled from the China Apple Store earlier this year will be reinstated. He also said he is pleased with how the iPhone X is doing in China.
A new technology is being developed to help with scenarios where an astronaut gets stranded during a spacewalk. A button incorporated into a space suit, dubbed "Take Me Home," could transport an astronaut safely back to the space station. (The Verge)