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 to 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
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
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
(Adds Facebook comment)
SAN FRANCISCO, July 2 (Reuters) - Facebook Inc's Silicon Valley campus received the all-clear on Tuesday after fears that a package at its mail facility contained the nerve agent sarin.
Four of the social media company's buildings were evacuated on Monday and two people were checked for possible exposure to the compound that attacks the nervous system and can be fatal.
But exhaustive testing by fire and hazardous material teams found no toxic material, said Jon Johnston, fire marshal for the city of Menlo Park in California where Facebook is based.
"There is no sarin," he told Reuters, referring to the package that had erroneously tested positive on Monday morning.
Facebook routinely checks all packages and had initiated a standard safety protocol, Johnston added, saying teams worked into the early hours of Tuesday to clear the scene.
Federal Bureau of Investigation (FBI) agents also went to the scene, Facebook said. A Facebook spokesman confirmed the all-clear on Tuesday.
"Authorities have confirmed test results were negative for any potentially dangerous substance and the buildings have been cleared for repopulation," said Anthony Harrison, Facebook's director of corporate media relations.
With 2.3 billion monthly active users worldwide and more than $55 billion in revenue in 2018, Facebook faces criticism for its control of personal information and has been subject to cyber attacks.
In December, a bomb threat at its main campus in Menlo Park forced the evacuation of several buildings. No bomb was found.
Sarin was used in a 1995 attack by a Japanese cult on the Tokyo subway that killed 13 people and injured several thousand.
Syria's government has denied recent accusations that it used sarin against insurgents during their civil war. (Reporting by Katie Paul in San Franciso; Andrew Hay in New Mexico, Dan Whitcomb in Los Angeles and Rich McKay in Atlanta; Editing by Richard Chang, Lisa Shumaker and Andrew Cawthorne)