Fed holds rates steady, signals cuts possible later this year
The U.S. Federal Reserve held interest rates steady on Wednesday but signaled possible rate cuts of 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.
Instant view: Fed holds interest rates steady, sets up for cuts
The U.S. Federal Reserve held interest rates steady on Wednesday but signaled possible rate cuts of 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.
FOMC statement from June 18-19 meeting
Following is the full text of the statement released by the Federal Reserve’s Federal Open Market Committee on Wednesday following a two-day meeting:
Canada Finance Minister says permitting work on Trans Mountain oil pipeline underway
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.
Wall Street climbs after Fed signals potential rate cuts
Wall Street rose on Wednesday after the Federal Reserve held interest rates steady, as expected, and signaled potential cuts later this year.
Oil prices mostly steady despite U.S. crude stock draw
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.
U.S. trade chief says he can ‘work out’ Democrat concerns over North America pact
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.
Trump on demoting Fed’s Powell: ‘Let’s see what he does’
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.
‘Sully’ Sullenberger blasts U.S. aircraft certification process, says 737 MAX pilots need new simulator training
Chesley “Sully” Sullenberger, who in 2009 landed a US Airways flight safely on the Hudson River in New York, told a congressional panel on Wednesday that pilots of the now-grounded Boeing 737 MAX should get new simulator training before the plane retur…
Wall St. cautious ahead of Fed policy statement
Wall Street’s main indexes took a pause on Wednesday, after a rally the previous day, as investors held back from making big bets ahead of the Federal Reserve’s policy statement that is expected to lay the groundwork for future interest rate cuts.
