'Flash Boys' exchange wants to protect corporations from speed traders

‘Flash Boys’ exchange wants to protect corporations from speed traders

Brad Katsuyama, president and CEO of IEX Group Inc.Adam Jeffery | CNBC IEX, the stock exchange made famous by the Michael Lewis book “Flash Boys,” has set its sights on another arena where high frequency traders drive up transaction costs: corporate buybacks.The firm plans on rolling out a new service geared toward corporate share programs, […]

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Fed & market are on a collision course over interest rates: Blackstone

Blackstone chief investment strategist Joseph Zidle believes the Federal Reserve and markets are on a collision course over interest rates.Zidle predicts the Fed will cut rates by a quarter point Wednesday but says Wall Street won’t get what it wants, and stocks could fall 10% to 20% — ranging from a correction to a bear […]

Here's why regulators are so worried about Facebook's digital currency

Here’s why regulators are so worried about Facebook’s digital currency

A visual representation of a cryptocurrency coin on display in front of the logos for Facebook and Libra.Chesnot | Getty ImagesPolicymakers around the world have upped the pressure on libra, the digital currency being introduced by Facebook, amid concerns it could heavily disrupt the global financial system.On Tuesday, European Central Bank board member Benoit Coeure […]

Interest rates cut by quarter point; FOMC divided on next steps

Interest rates cut by quarter point; FOMC divided on next steps

The Federal Reserve approved a much-anticipated quarter-point interest rate cut Wednesday but offered few indications that further reductions are ahead as members split on what to do next.Following its two-day policy meeting, the central bank announced that it would take down its benchmark overnight lending rate to a target range of 1.75% to 2%. That […]

Fed cuts rate on bank reserves amid repo turmoil

Fed cuts rate on bank reserves amid repo turmoil

Federal Reserve officials responded to this week’s tumult in the short-term borrowing markets by sharply cutting the rate it pays on bank reserves.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 IOER, as it is known, is a […]

Fed September dot plot forecasts no further rate cuts, but members divided

Fed September dot plot forecasts no further rate cuts, but members divided

The Federal Reserve building is pictured on Tuesday August 6, 2019.Caroline Brehman | CQ-Roll Call Group | Getty ImagesThe Federal Reserve sees no further rate cuts in 2019 and 2020.The central bank lowered rates on Wednesday by 25 basis points to a range of 1.75% to 2.00%. The Fed’s September meeting follows its first rate […]

Fed gets more divided as three members vote against rate cut

Fed gets more divided as three members vote against rate cut

Esther George, president and chief executive officer of the Kansas City Federal Reserve Bank (L), and Eric Rosengren, president and chief executive officer of the Bostn Federal Reserve Bank.Bloomberg | Bloomberg | Getty ImagesThe Fed has become increasingly divided, with three officials voting against the Fed’s quarter-point cut to the fed funds target rate range.Boston […]

Fed ups its GDP forecast for 2019 slightly to 2.2%

Fed ups its GDP forecast for 2019 slightly to 2.2%

The Eccles Building, location of the Board of Governors of the Federal Reserve System and of the Federal Open Market Committee, June 2, 2016 in Washington, DC.Brooks Kraft | Getty Images The Federal Reserve dialed up its growth expectations slightly while keeping its inflation projection unchanged, according to its Summary of Economic Projections.Source: Federal ReserveThe […]

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Rate cuts could be needed if economy turns

Jerome Powell, chairman of the U.S. Federal Reserve, waits for the start of a House Financial Services Committee hearing in Washington, D.C., on Wednesday, July 10, 2019.Andrew Harrer | Bloomberg | Getty ImagesFederal Reserve Chairman Jerome Powell pledged that the central bank would engage in a “sequence” of interest rate cuts if conditions warrant, but […]

Stocks making the biggest moves after hours: AT&T, Microsoft and more

Stocks making the biggest moves after hours: AT&T, Microsoft and more

People walk past an AT&T store in New York on October 23, 2016.Kena Betancur | AFP |Getty ImagesCheck out the companies making headlines after the bell:AT&T shares climbed more than 2% in extended trading following a Wall Street Journal report that the company is exploring a spinoff of DirectTV unit as its own company or […]