Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
The stream is slated to start at 2:30 pm ETThe Fedread more
This is a comparison of Wednesday's FOMC statement with the one issued on May 1 after the Fed's previous policy-making meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
Federal Reserve Chairman Jerome Powell said the case for a rate cut at central bank's Wednesday meeting is not strong enough.The Fedread more
If you're concerned about what Wednesday's Fed decision means for your bank account, mortgage loan or credit card — as well as student debt, home equity loan and car payment —...Personal Financeread more
The Federal Open Market Committee's quarterly economic forecast includes the so-called dot plot of where members see interest rates heading.The Fedread more
Employees spoke out on issues such as forced arbitration, workplace equity and Project Dragonfly at Alphabet's annual shareholder meeting.Technologyread more
The Federal Reserve lowered its inflation forecast for 2019 while keeping the growth expectations unchanged.The Fedread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
The United States has sued Lockheed Martin, Lockheed Martin Services Inc, and Mission Support Alliance LLC, as well as a Lockheed executive for alleged false claims and kickbacks on a multibillion-dollar contract to clean up a nuclear site, the Justice Department said on Friday.
The complaint alleges Lockheed paid more than $1 million to Mission Support Alliance executives in order to win a $232 million subcontract for providing management and technology support at the Hanford, Washington site from 2010 through the middle of 2016 at inflated rates.
It also says the defendants lied about the amount of profit included in Lockheed's billing rates.
Representatives for Lockheed Martin did not immediately respond to requests for comment.
At the time, MSA was owned by Lockheed Martin Integrated Technology, Jacobs Engineering, and Centerra. It awarded the subcontract to Lockheed's technology group without competition, according to the Justice Department.
The large 586-square mile Hanford nuclear site in southern Washington, established during World War Two to produce plutonium, is considered the biggest environmental cleanup in U.S. history. It is administered by the Department of Energy, Environmental Protection Agency and the state of Washington.