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
Walt Disney said on Tuesday it had hired a top executive in Netflix's original film division, Matt Brodlie, to lead international content development for its upcoming family-oriented streaming service called Disney+.
As director of original film at Netflix, Brodlie was responsible for films including "To All the Boys I've Loved Before" and "Ibiza."
He also acquired award-winning movies "Roma" and "Mudbound" for Netflix. "Roma" won three Academy Awards.
In his new role at Disney, Brodlie will determine what content needs to be produced or acquired for Disney+ customers outside of the United States, according to a statement from the company.
In recent years, Netflix had been luring away high-profile executives from rivals and was earlier sued by Twentieth Century Fox Film for poaching employees as it built an audience of nearly 149 million global customers.
Disney unveiled details of Disney+, an ad-free monthly subscription streaming service, in April and priced it at $7 monthly or $70 annually with a slate of new and classic TV shows and movies from some of the most popular entertainment franchises.
Disney+ is set to launch on Nov. 12.