"This ongoing gap between market and Fed expectations means that some risk of upward pressure on mortgage rates remains, but for now, consumers have already benefited from the drop in mortgage rates that has brought mortgage rates below 6.5% for the first time in nearly a year and is likely to continue at least through this week."

The Fed’s nearly-unanimous decision to reduce its key interest rate was seen by many as a quiet show of unity.

The appeals court ruling does not settle the key issue of whether President Trump can remove Lisa Cook for what he considers just cause.

The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation's labor

Jamie Dimon made a surprise visit to the US Capitol on Wednesday, where he discussed economic growth and the Federal Reserve with Senate Republicans just as the central bank was preparing to release its latest rate decision.

The Federal Open Market Committee (FOMC) lowered the federal funds rate to 4.00%-4.25% amid elevated economic uncertainty. Click here to read my analysis.

The Federal Reserve cut interest rates for the first time in nine months on Wednesday, signaling concerns about a weakening labor market. The central bank’s Federal Open Market Committee voted to lower its target range for the federal-funds rate by a quarter percentage point to 4% to 4.

Bitcoin was trading 1.6% lower Wednesday afternoon, as U.S. stocks fell, after Federal Reserve Chair Jerome Powell said the central bank would adopt a “meeting-to-meeting” stance in cutting interest rates toward neutral.