Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
The stream is slated to start at 2:30 pm ETThe Fedread more
This is a comparison of Wednesday's FOMC statement with the one issued on May 1 after the Fed's previous policy-making meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If you're concerned about what Wednesday's Fed decision means for your bank account, mortgage loan or credit card — as well as student debt, home equity loan and car payment —...Personal Financeread more
The Federal Open Market Committee's quarterly economic forecast includes the so-called dot plot of where members see interest rates heading.The Fedread more
Employees spoke out on issues like forced arbitration, workplace equity and Project Dragonfly at Alphabet's annual shareholder meeting.Technologyread more
The Federal Reserve lowered its inflation forecast for 2019 while keeping the growth expectations unchanged.The Fedread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Punxsutawney Phil, the weather-forecasting groundhog, emerged from his burrow in Pennsylvania on Friday, saw his shadow and predicted six more weeks of winter, despite his rival Staten Island Chuck in New York predicting an early spring.
Phil's prognostication, which was delivered at about 7:20 am EST, was met with a mix of cheers and groans from thousands of revelers on Friday who gathered in the town of Punxsutawney about 80 miles (120 km) northeast of Pittsburgh.
Even though they have endured record-breaking freezing temperatures and an unusually powerful winter storm known as a "bomb cyclone," North Americans should expect winter to stretch on, according to the furry Pennsylvania critter.
But another celebrated groundhog, Chuck in the New York City borough of Staten Island, did not see his shadow on Friday and instead predicted an early spring. Chuck is known for biting then-Mayor Michael Bloomberg during the ceremony in 2009.
According to legend, if the groundhog emerges from his dwelling and sees his shadow, six more weeks of winter should be expected. But if there is no shadow, spring will make an early arrival.
Groundhogs, portly animals belonging to the squirrel family, have been offering weather predictions in Punxsutawney, which has a population of about 6,000 people, since 1887.
The town's annual Groundhog Day event, made more popular by the 1993 comedy film "Groundhog Day" starring Bill Murray, draws people from as far away as Australia and Russia. This year was the 132nd ceremony.
Canada has its own share of weather-forecasting mascots, including Wiarton Willie, an albino groundhog who is also due to make his spring prediction on Friday in southern Ontario.