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
As two potentially major hurricanes are brewing in the Atlantic Ocean, investors bid up shares that stand to benefit from increased sales of plywood and generators and sold shares that would be hurt by damage claims.
Hurricane Florence could strike a direct blow on the southeast U.S. later this week. Florence strengthened to a Category 4 storm on Monday morning, according to the National Hurricane Center.
Home Depot and Lowe's shares each rose nearly 2 percent in trading Monday, while generator manufacturer Generac stock popped 5.7 percent and roofing supplier Beacon rose 7.3 percent. Generac hit a 4½ high in trading.
Insurance stocks sank as Florence rolled closer, with Travelers and Allstate each falling by about 2 percent and high-end real estate insurer Chubb falling 0.8 percent.
Far behind Florence is Hurricane Isaac, which was centered about 1,150 miles east of the Windward Islands and moving west. The hurricane center says Isaac is a very small hurricane and its intensity could fluctuate as it approaches the Caribbean