Fed’s Rosengren says the US has survived the trade war and doesn’t need rate cuts
The U.S. economy has weathered the global slowdown and the tariff war with China and doesn’t need lower interest rates, Boston Federal Reserve President Eric Rosengren said Friday. Rosengren was one of two central bank officials to vote against Wednesday’s...
Fed Vice Chair Clarida says the Fed will take interest rate policy ‘meeting by meeting’
The Federal Reserve is taking a meeting-by-meeting approach to setting interest rates and for now is not committed to a set course of action ahead, Vice Chairman Richard Clarida told CNBC. “We’re gonna take this meeting by meeting. We’re not on a...
The Federal Reserve is increasingly divided with one official even wanting a sizable half-point cut
James Bullard David Orrell | CNBC St. Louis Federal Reserve Bank President James Bullard said he argued for a deeper rate cut than his colleagues approved earlier this week because he fears that the economy is slowing and manufacturing “already...
Trump grants tariff exemptions to plastic straws, dog leashes and more from China
U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer arrive for a group photo session after a meeting with Chinese Vice Premier Liu He in Beijing on May 1, 2019. Andy Wong | AFP | Getty Images BEIJING...
Fintech start-up Stripe notches eye-popping $35 billion valuation after new funding round
Fintech company Stripe is climbing the ranks of the most valuable Silicon companies. Stripe, a San Francisco-based payments company that competes with Jack Dorsey’s Square, announced an additional $250 million funding round on Thursday, bringing its valuation to an eye-popping...
Leon Cooperman says the Fed made a mistake cutting rates: ‘You’re screwing the savers’
Billionaire investor Leon Cooperman on Thursday said he believes that the Federal Reserve is “screwing the savers” by cutting interest rates like they did for the second time this year in the prior session. “I side with the two Fed...
US existing home sales rise to 17-month high in August
A “For Sale” sign is seen in front of a home on May 30, 2019 in Miami, Florida. Joe Raedle | Getty Images U.S. home sales unexpectedly rose to a 17-month high in August for a second straight month of...
The CEO of Pimco, which manages $1.8 trillion, says the US economy will slow to just 1% growth
NEW YORK — The U.S. economy will have a tough time at the start of 2020, Pimco CEO Emmanuel Roman said Thursday. “We see the U.S. economy slowing down,” Roman said at the Delivering Alpha conference presented by CNBC and...
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 Images Policymakers around the world have upped the pressure on libra, the digital currency being introduced by Facebook, amid...
Disney CEO Bob Iger: I believe if Steve Jobs were still alive, we might have combined with Apple
Steve Jobs shows off the first iPhone. SHAUN CURRY | AFP | Getty Images Disney CEO Bob Iger believes he would have discussed combining Disney with Apple had Steve Jobs not died in 2011, according to a passage from his...
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