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
The sale marked Bezos' first since October of last year, when he sold $33 million worth of stock, according to forms filed with the Securities and Exchange Commission. This time, Bezos sold more than 950,000 shares over three sales between July 29 and July 31 at a price of about $1,900 per share. After the most recent sale, Bezos still owns 58.1 million shares in Amazon.
The sale appears to be Bezos' largest over such a short period in the history of the company based on dollar value. Bezos told reporters in 2017 that he plans to sell about $1 billion in Amazon stock each year to fund his space exploration company, Blue Origin. Separately, Bezos and his now ex-wife MacKenzie pledged $2 billion in 2018 to launch the "Day One Fund" to help homeless families and create preschools.
In his divorce settlement with his wife MacKenzie Bezos, Jeff Bezos kept 75% of the couple's Amazon stock and voting control over MacKenzie Bezos' shares.
Amazon declined to comment further on the recent filings.
After the sale, Bezos' net worth will be about $115 billion, Forbes estimated.