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 to 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
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
As the Federal Reserve lowers rates, some banks are pulling back their offerings on their savings accounts and certificates of deposit. Even so, they are still pretty good by...Personal Financeread more
Grocery chain Kroger has considered buying online wholesaler Boxed, according to a person familiar with the matter, as more shoppers place food orders online and as competition with Amazon.com Inc heats up.
The potential deal, which arose as the New York-based start-up was seeking funding, likely values Boxed at between $325 million and $500 million, said the person, who spoke on condition of anonymity.
Amazon's $13.7 billion acquisition of Whole Foods Market last year to crack the U.S. grocery market heightened a sense of urgency among rivals looking for ways to counter competition from the world's largest online retailer.
Target, for instance, said last month it agreed to buy same-day delivery platform Shipt for $550 million.
Boxed, which sells bulk staples like toilet paper and pet food to shoppers' doorsteps, expects it may receive takeover offers from other retailers besides Kroger in coming weeks, the person said. Morgan Stanley is advising the start-up.
Boxed Chief Executive Chieh Huang did not respond to an emailed request for comment. A Kroger spokeswoman said the company in general does not comment on rumor or speculation.
Forbes reported the news earlier on Friday.