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
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
The bug went viral last week after 14-year old Grant Thompson discovered that, while group FaceTiming with friends on his iPhone, he was able to hear someone who hadn't picked up when he called. Apple will compensate the teenager and his family for discovering the flaw. It will also make a contribution toward Grant's education.
Here's what Apple said on Thursday:
"Today's software update fixes the security bug in Group FaceTime," Apple said. "We again apologize to our customers and we thank them for their patience. In addition to addressing the bug that was reported, our team conducted a thorough security audit of the FaceTime service and made additional updates to both the FaceTime app and server to improve security. This includes a previously unidentified vulnerability in the Live Photos feature of FaceTime. To protect customers who have not yet upgraded to the latest software, we have updated our servers to block the Live Photos feature of FaceTime for older versions of iOS and macOS."
Here's how to update your iPhone:
Let your iPhone download and install the new software.