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
Marriott International said on Friday that hackers illegally accessed its Starwood Hotels brand's reservation database since 2014, potentially exposing personal information on about 500 million guests.
Shares of the company fell nearly 6 percent to about $115 in trading before the bell.
The company said for 327 million guests, personal information compromised could include passport details, phone numbers and email addresses. For some others, it could include credit card information.
The company said it learned about the breach after an internal security tool sent an alert on Sept. 8. On further investigation, the hotel chain learned data had been hacked long before.
The company, which bought Starwood in 2016, said it had reported the incident to law enforcement and had begun notifying regulatory authorities.
Marriott said it would send emails to affected guests, starting Friday.
"We are still investigating the situation so we don't have a list of specific hotels. What we do know is that it only impacted Starwood brands," Marriott spokesman Jeff Flaherty told Reuters.
Marriott said it was too early to estimate the financial impact of the breach and that it would not affect its long-term financial health. It also said it was working with its insurance carriers to assess the coverage.
Hotel groups have of late become a target of hackers, seeking to steal information such as credit card data.
Hyatt said it had discovered unauthorized access to payment card information at certain of its locations, affecting 41 properties in 11 countries.