Kudlow says the White House is not considering demoting Fed Chair Powell right now
President Donald Trump is not currently considering removing Jerome Powell as head of the Federal Reserve, despite persistent White House criticism of the way the central bank is handling monetary policy, one of the president’s top advisors said. Larry Kudlow,...
How the trade war with China could crush California’s $2.7 trillion economy and hurt other states
Roughly one year into the U.S. trade war with China, importers and exporters are still finding workarounds for the tariffs. But with new tariffs going into effect this month and no end to the battle in sight, experts say it...
US housing starts fall in May, but starts for the prior two months were revised higher
Construction workers build a single-family home in San Diego. Mike Blake | Reuters U.S. homebuilding unexpectedly fell in May, but data for the prior two months was revised higher and building permits increased, suggesting that the housing market was drawing...
Fed should listen to the Treasury market’s screams to cut rates, Wall Street bull Tony Dwyer says
If the Federal Reserve fails to signal on Wednesday a rate cut, the June rally could hit the skids,Wall Street bull Tony Dwyer warns. The Canaccord Genuity chief market strategist contends it’s necessary for the Fed to ease soon to...
Major banks set new lending standards for shipping industry in order to cut CO2 emissions
The Cosco Spain container ship, operated by Cosco Shipping Holdings Co., sails near the Yangshan Deepwater Port, operated by Shanghai International Port Group Co. (SIPG), in this aerial photograph taken in Shanghai, China, on Friday, May 10, 2019. Qilai Shen...
Homebuilder sentiment inches lower despite demand for single-family homes
A contractor stacks roofing materials while working on a home under construction at the Toll Brothers Bowes Creek Country Club community in Elgin, Illinois. Daniel Acker | Bloomberg | Getty Images The nation’s homebuilders reported solid confidence in the housing...
Amazon responds to Ocasio-Cortez’s claim that it pays workers ‘starvation wages’
U.S. Representative Alexandria Ocasio-Cortez (D-NY) arrives before the town hall meeting in the Queens borough of New York City, New York, U.S., April 27, 2019. REUTERS/Jeenah Moon/File Photo Amazon responded Monday to a comment by Rep. Alexandria Ocasio-Cortez, D-N.Y., that...
Goldman Sachs is sounding the alarm to clients that technology stocks are overvalued
It’s about time to write off high-growth tech stocks, Goldman Sachs warned, saying the double whammy of sky-high valuation and elevated regulation is becoming a “hazard” to the group. Technology stocks have been investors’ darlings for years as the appetite...
A key manufacturing gauge just saw its biggest one-month decline in 18 years
A closely followed gauge of manufacturing in the New York area fell this month to its lowest level in nearly three years. The Empire State Manufacturing Index tumbled to a -8.6 reading from 17.8 in May, a 26.4-point drop that...
Puerto Rico’s oversight board strikes $35 billion restructuring deal with commonwealth’s bondholders
The oversight board in charge of Puerto Rico’s ongoing debt restructuring saga announced late on Sunday they have come to terms with bondholders of around $35 billion, which accounts for nearly 50% of the bankrupt island’s total bonded debt. The...
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