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
Facebook won't split the News Feed into two after all.
The social media site said Thursday it was ending testing of the change, which would have pushed publisher content onto a second feed away from posts by family and friends.
"People don't want two separate feeds," Adam Mosseri, Head of News Feed, said in a blog post. "In surveys, people told us they were less satisfied with the posts they were seeing, and having two separate feeds didn't actually help them connect more with friends and family."
Users in the six test markets — Bolivia, Cambodia, Guatemala, Serbia, Slovakia and Sri Lanka — reported separating the feed made it harder to find important information, Mosseri said.
Facebook has made made several tweaks to the News Feed in recent months after revealing extended time spent on the app put users in a worse mood.
CEO Mark Zuckerberg said the site would promote "meaningful social interactions" by ranking posts between friends and real connections higher than posts by publishers or pages.