Here’s why Trump wants to buy Greenland
President Donald Trump has floated the idea of buying Greenland multiple times. Danish Prime Minister Mette Frederiksen has called the notion “absurd.” It has triggered a diplomatic row of sorts. Yet Trump’s interest in Greenland is just the latest indication...
Bond market yield curve inverts, signaling Fed may be too slow to cut rates, risks recession
Federal Reserve Chairman Jerome Powell reacts during a press conference in Washington D.C., the United States, on July 31, 2019. Liu Jie | Xinhua | Getty Images Market moves were modest after the Fed released minutes of its last meeting,...
Fed says July rate cut was ‘recalibration’ and not part of ‘pre-set course’ for more easing
Federal Reserve officials who voted to lower interest rates three weeks ago agreed that the move shouldn’t be viewed as an indication that there is a “pre-set course” for future cuts, according to meeting minutes released Wednesday. The summary indicated...
CBO expects deficit to grow more than projected, warns that tariff hikes could harm growth
Federal deficits are expected to swell to higher levels over the next decade than previously expected, the nonpartisan Congressional Budget Office said in a new report Wednesday. The CBO also said that President Donald Trump’s tariffs are projected to shrink...
‘Mr. Wonderful’ Kevin O’Leary: ‘There is no recession coming in America’
Kevin O’Leary told CNBC on Wednesday he’s confident the U.S. is not nearing a recession. “There is no recession coming in America,” said O’Leary, known on “Shark Tank” as “Mr. Wonderful.” O’Leary, chairman of O’Shares ETFs, pointed toward rising cash...
Morgan Stanley: Risk of a global recession is ‘high and rising’
A pedestrian passes in front of a statue of a bull in the Wall Street area in New York City. Doug Kantor | AFP | Getty Images The downtrend in some global economies is becoming contagious as weakness in the...
Trump says the Fed is the ‘only problem’ with the economy, calls Powell ‘a golfer who can’t putt’
Donald Trump plays a round of golf after the opening of The Trump International Golf Links Course on July 10, 2012 in Balmedie, Scotland. Ian MacNicol | Getty Images President Donald Trump insisted Wednesday that the economy is healthy and...
Bank of America CEO Moynihan says the consumer is doing well and will keep US economy going
Bank of America CEO Brian Moynihan is not worried about a potential U.S. economic slowdown, saying the American consumer is still in a strong place and can keep the economy growing. “The underlying consumer is doing well and making more...
Target CEO: The US trade war creates ‘uncertainty’ and ‘complexity’
A Target worker helps a customer at a Target store in San Rafael, California. Justin Sullivan | Getty Images The festering U.S.-China trade war creates problems for retailers like Target, CEO Brian Cornell said Wednesday. “As long as the trade...
Top tech analyst says electric vehicles from Jaguar and Audi are stealing market share from Tesla
Adam Jeffery | CNBC Adam Jeffery | CNBC Competition is weighing on Tesla’s sales, according to A.B. Bernstein. The firm said increased competition abroad is responsible for the recent weakness in Tesla’s sales volume. “Our analysis suggests that the deteriorating...
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