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
President Donald Trump fired back a fiercely worded response to London Mayor Sadiq Khan on Monday morning, in an escalating war of words at the start of the president's official state visit to the U.K.
Building on comments to reporters Sunday night, Trump took to Twitter just moments before touching down at Stansted Airport outside London. "He is a stone cold loser who should focus on crime in London, not me," Trump said of the mayor.
He said Khan has "by all accounts" done a terrible job and has been "foolishly 'nasty' to the visiting President of the United States, by far the most important ally of the United Kingdom."
In an opinion article published ahead of the U.S. president's visit, Khan likened Trump to the fascists who roiled Europe in the 20th century.
"In years to come, I suspect this state visit will be one we look back on with profound regret and acknowledge that we were on the wrong side of history," Khan wrote in The Guardian.
Trump and Khan have had a contentious relationship for years. After attackers killed eight people near London Bridge in 2017, Trump criticized Khan's handling of the attack, and Khan's office called Trump "ill-informed." Khan then urged the U.K. government to reassess its invitation to Trump for a U.K. visit later that year. "I don't think we should roll out the red carpet to the president of the U.S.A. in the circumstances where his policies go against everything we stand for," Khan told U.K. broadcaster Channel 4.