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 to 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
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 the Federal Reserve lowers rates, some banks are pulling back their offerings on their savings accounts and certificates of deposit. Even so, they are still pretty good by...Personal Financeread more
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CEOs of top companies, government leaders, and industry experts are set to meet at the Business Roundtable CEO Innovation Summit this Thursday to discuss a national innovation agenda to ensure that the United States remains a global leader in innovation across all industry sectors.
More than 200 retailers, banks, and technology companies are expected to attend. Among those slated to take part in discussions are Jamie Dimon, chairman and CEO of JP Morgan Chase, Doug McMillon, president and CEO of Walmart, and Virginia M. Rometty, chairman, president, and CEO of IBM.
These companies will release new recommendations for national privacy legislation which will ask the United States to adopt a national privacy law, specifically one that would apply the same data collection requirements all companies. This legislation will also increase both staffing and funding to enforce this new rule and provides consumers with more control of their data.
In addition to those mentioned above and others, Ivanka Trump, daughter of President Donald Trump and advisor to the president is expected to attend. She is scheduled to speak with Jamie Dimon while attending the event.