Investors largely expected the FOMC to cut rates by a quarter point.The Fedread 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
The interest on excess reserves now stands at 1.8%, a 30 basis point cut compared to the 25 basis point reduction for the benchmark funds rate.The Fedread more
Stocks traded lower on Wednesday as traders digested the Federal Reserve's latest decision on U.S. monetary policy.US Marketsread 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
Activists with Black Lives Matter, who met privately with Buttigieg in the weeks after police shot and killed Eric Logan, say the 37-year-old mayor brushed off their concerns...2020 Electionsread more
Investors should begin looking at defensive stocks, because the stock market is set to get "ugly" on global growth scares in the second half of this year, a top strategist told CNBC on Wednesday.
Michael Kantrowitz, macro head of portfolio strategy at Cornerstone, told CNBC's "Fast Money" that the ongoing U.S.-China trade war has the potential to be the catalyst of a global economic slowdown. Most recently, the U.S. increased duties on $200 billion worth of Chinese products from 10% to 25%. China announced plans to raise tariff rates on $60 billion in U.S. goods.
As a result of the trade dispute, Kantrowitz recommended investing in the utilities, staples, REITs and health care sectors. He said that he is underweight on semiconductors.
Kantrowitz spoke shortly after U.S. stocks closed lower Wednesday, with the Dow, S&P 500 and Nasdaq all posting back-to-back losses.
Markets had initially rallied this month in part on hopes that the Federal Reserve would cut interest rates later this year as the U.S. economy shows signs of cooling. However, in a note to clients Monday, Goldman Sachs warned that the growing consensus that the Fed will cut rates soon is misguided.
On Tuesday, J.P. Morgan strategist Jason Hunter said investors should be "hesitant" about investing in stocks due to the possibility of bad trade news from this month's G-20 meeting.
President Donald Trump is expected to meet with Chinese President Xi Jinping at the G-20 summit, which is scheduled for June 28-29 in Osaka, Japan. Trump confirmed to CNBC on Monday that additional tariffs on Chinese goods will be levied if Xi does not attend the meeting.