In a surprise move, the Fed cut a key rate to 1.5 percent.
Fed rate cut winners and losers
The Federal Reserve cut the federal funds rate. How will this affect your bottom line?
Smart money moves after the Fed
Take advantage of the action by the Federal Reserve with these money moves.
How soon will it hit you?
The Fed cut rates today, but when will your finances feel it?
Greg McBride explains why the Fed and other central banks around the world made a surprise cut.
Get help understanding some economic lingo such as GDP, PCE, monetary policy and more.
Video: Fed rate cut and you
Greg McBride explains the Fed rate cut and how it affects you.
The rate-setting Federal Open Market Committee meets at least eight times a year. Its members include the Board of Governors of the Federal Reserve System, the president of the Federal Reserve Bank of New York and a rotating selection of presidents of the other 11 reserve banks. Its members are:
- Ben S. Bernanke, Board of Governors, chairman
- William C. Dudley, New York, vice chairman
- Denise P. Lockhart, Atlanta
- Donald L. Kohn, Board of Governors
- Charles L. Evans, Chicago
- Jeffrey M. Lacker, Richmond
- Janet L. Yellen, San Francisco
- Kevin M. Warsh, Board of Governors
- Elizabeth A. Duke, Board of Governors