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The Fed will conclude its two-day policy meeting today and announce what it will do with the short-term interest rate it sets.

Quarterly profit at JPMorgan Chase was down, but it still earned a record $48.3 billion for the year. Citi’s annual profit nearly doubled, even though quarterly profit fell 26 percent.

Wells Fargo targets $8 billion in cuts Beleaguered bank also confirms asset-management among units on chopping block Print Wells Fargo is aggressively targeting $8 billion in cost savings, to include job cuts and other organizational streamlining efforts, over the next three to four years, the company said Friday in its fourth quarter earnings call. The bank's cost-cutting target does not include announced plans to exit several areas — its private student loan business, international wealth management and direct equipment finance in Canada — which are not core to the firm's mission, Pres...