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
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
Powell said on Wednesday that the Fed may have to resume regular balance sheet growth to help ease money markets.The Fedread 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
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
Federal Reserve Chairman Jerome Powell pledged that the central bank would engage in a "sequence" of interest rate cuts if conditions warrant, but he doesn't see that as...The Fedread more
Tom Barrack, a personal friend of Donald Trump who chaired the president's inaugural committee, said he would cooperate with the House Judiciary Committee's requests to hand over documents as part of a sweeping probe into Trump's dealings.
A spokesman for Barrack told CNBC in an email that the investor "will fully cooperate with the Committee's important work as he has with all government inquiries."
Barrack was among 81 individuals and entities asked to submit documents as part of Chairman Jerry Nadler's wide-ranging investigation into Trump, his family and his affairs. These individuals also include current Trump campaign chairman Brad Parscale, Trump Organization CFO Allen Weisselberg and the president's elder sons, Donald Trump Jr. and Eric Trump. They have been asked to provide the documents by March 18.
Barrack, founder of private equity real estate firm Colony Capital, has been asked to hand over documentation as it pertains to numerous issues involving the president, including foreign governments "discussing, offering, or providing, or being solicited to discuss, offer, or provide, any present or emolument of any kind," to Trump's inaugural committee.
Trump has denounced Nadler, of New York, and other Democratic investigations into his past dealings, which include his work as the head of the Trump Organization. He has denied wrongdoing, and has accused Democrats of using the probes to distract from other issues.
The committee has stepped up its investigations after former Trump personal attorney Michael Cohen testified last week in front of three different committees on Capitol Hill.