Powell: Some Fed officials believe the case for more accommodative policy has strengthened
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.
Work to obtain building permits for the Trans Mountain oil pipeline started on Wednesday, Canadian Finance Minister Bill Morneau said, a day after the federal government approved the contentious expansion project despite widespread opposition.
Oil futures were little changed on Wednesday as price support from a larger-than-expected decline in U.S. crude inventories was countered by a slump in equities.
The top U.S. trade negotiator said on Wednesday he is ready to work with lawmakers "sooner rather than later" to address concerns over a new North American pact, even as a leading Democrat cited problems that could prevent the deal's approval.
The Fed lowered its inflation forecast for 2019 while keeping the growth expectations unchanged.
This is a comparison of Wednesday's FOMC statement with the one issued on May 1 after the Fed's previous policy-making meeting.
The Federal Open Market Committee's quarterly economic forecast includes the so-called dot plot of where members see interest rates heading.
President Donald Trump on Tuesday kept up the pressure on the head of the Federal Reserve following a report that lawyers at the White House earlier this year explored the legality of stripping Jerome Powell of the chairmanship.
Here's a breakdown of what Wednesday's Fed decision means for your bank account, mortgage, credit card, student loan balance and car payment.
Wall Street rose on Wednesday after the Federal Reserve signaled potential cuts later this year, reassuring investors worried that the U.S.-China trade war could stall economic growth.
The U.S. Federal Reserve on Wednesday signaled it could cut interest rates by as much as half a percentage point over the remainder of this year, as it responded to increased economic uncertainty and a drop in expected inflation.
Oil futures were mostly steady on Wednesday as price support from a larger-than-expected decline in U.S. crude inventories was countered by a lull in equities.
Construction to expand the Trans Mountain oil pipeline could begin in September, assuming the next regulatory steps go smoothly, the project's chief executive said on Wednesday.
Airbus unveiled an aircraft deal with Taiwan's China Airlines on Wednesday, snatching the carrier's medium-haul fleet renewal from Boeing a day after its U.S. rival made a shock entry into the single-aisle fleet of British Airways owner IAG.
The top U.S. trade negotiator said on Wednesday he is ready to work with lawmakers "sooner rather than later" to address concerns over a new North American pact, even as a leading Democrat outlined roadblocks to the deal's approval.