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
Federal Reserve Chairman Jerome Powell said the he does not see the Fed using negative interest rates in the future.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
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
Powell said on Wednesday that the Fed may have to resume regular balance sheet growth to help ease money markets.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
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
Facebook's head of policy, Joel Kaplan, was sitting in the U.S. Senate gallery Thursday behind Judge Brett Kavanaugh as he responded to allegations of sexual misbehavior when he was in high school.
Kaplan attended in a personal capacity as a friend of Kavanaugh's, according to a Facebook spokesperson. Both Kavanaugh and Kaplan worked for President George W. Bush.
New York Times reporter Mike Isaac, among others, noticed Kaplan's presence in the audience:
It's a sensitive time for Facebook and the company's relationship with Washington, D.C., following the problems the platform faced ahead of the 2016 presidential election. CEO Mark Zuckerberg has made multiple trips to the Capitol to testify in front of Congress, and a number of legislators have called for the company to be regulated.