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
Washington ordered the departure of non-emergency government employees from Iraq on Wednesday, after repeated U.S. expressions of concern about threats from Iranian-backed forces.
The U.S. State Department has ordered the pullout of the employees from both the U.S. Embassy in Baghdad and its consulate in Erbil, the embassy said in a statement.
"Normal visa services at both posts will be temporarily suspended," it said, recommending those affected depart as soon as possible. It was unclear how many staff would leave.
On Tuesday, the U.S. military reaffirmed concerns about possible imminent threats from Iran to its troops in Iraq, although a senior British commander cast doubt on that and Tehran has called it "psychological warfare."
U.S. President Donald Trump's administration has stepped up sanctions pressure by ending waivers for some countries to purchase Iranian oil — part of efforts to roll back the Islamic Republic's expanding regional clout.
Iraqi Prime Minister Adel Abdul Mahdi said on Tuesday he was getting indications from talks with both the United States and Iran that "things will end well" despite the rhetoric.
Washington has sent additional military forces to the Middle East, including an aircraft carrier, B-52 bombers and Patriot missiles in a show of force against what U.S. officials have said is a threat to its troops and interests in the region.
A senior Iranian Revolutionary Guards commander has said Tehran would retaliate against any aggressive U.S. moves.
A U.S. State Department spokesman said the decision to withdraw non-emergency staff was based on a security assessment, but would not give details on how many personnel were leaving.
"Ensuring the safety of U.S. government personnel and citizens is our highest priority and we are confident in the Iraqi security services' (ability) to protect us," he said.
"But this threat is serious and we want to reduce the risk of harm."