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
Powell said on Wednesday that the Fed may have to resume regular balance sheet growth to help ease liquidity markets.The Fedread more
Stocks fell on Wednesday after a divided Federal Reserve failed to signal easier monetary policy later this year, disappointing traders.US Marketsread more
Amazon is launching a new feature that allows presidential candidates to receive campaign contributions through the Alexa voice assistant.Technologyread more
The Federal Reserve dialed up its growth expectations slightly while keeping its inflation projection unchanged.Marketsread more
Federal Reserve Chairman Jerome Powell pledged that the central bank would engage in a "sequence" of interest rate cuts if conditions warrant, but he doesn't see that as...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
The Federal Reserve cut rates Wednesday by 25 basis points to a range of 1.75% to 2.00%.The Fedread more
Facebook on Thursday confirmed it is working on a news tab to deliver "trustworthy news" to the social network's users that will launch this fall. The tab would give news high prominence on Facebook, alongside core features like the News Feed (which includes updates from friends), Messenger and Watch (for videos).
The company confirmed the feature is in the works after the Wall Street Journal on Thursday reported that Facebook had approached numerous news outlets like The Washington Post and Bloomberg about paying them as much as $3 million annually to license their news articles.
"No details to share on the WSJ report, but I can confirm we're working on a news tab to launch this fall," a Facebook spokeswoman told CNBC.
The idea of a news tab was first floated by Facebook CEO Mark Zuckerberg in April in a video he posted on his Facebook profile in which he discusses the topic of journalism with Axel Springer CEO Mathias Döpfner.
"It's important to me that we help people get trustworthy news and find solutions that help journalists around the world do their important work," Zuckerberg wrote alongside the video.