Vice President Mike Pence backs Trump’s call to lower interest rates, citing low consumer inflation
Vice President Mike Pence said that despite his bullish view of the state of the economy, he backs the president’s calls for further rate cuts from the Federal Reserve. The comments came in response to a question from CNBC’s Joe...
Herman Cain’s Fed board bid is in danger as three GOP senators plan to vote against Trump’s pick
Herman Cain Julie Dermansky | Corbis News | Getty Images Herman Cain’s path to the Federal Reserve Board could get blocked before President Donald Trump even nominates him. At least three GOP senators plan to vote against the former Godfather’s...
Stocks making the biggest moves midday: Under Armour, Tesla, Lyft, First Solar & more
Check out the companies making headlines midday Wednesday: Under Armour — Shares of Under Armour rose more than 2% after Citi upgraded its rating on the athletic apparel maker to buy from neutral, saying Under Armour is “growing up” with...
Trade war hits Asian FX
By Morgan Davis Big global banks still dominate FX trading in Asia, according to the latest results from the annual survey of the industry carried out by Asiamoney’s sister publication Euromoney. JPMorgan beats Bank of America Merrill Lynch to the...
Rising gasoline prices and rents boost US consumer prices in March
U.S. consumer prices increased by the most in 14 months in March, but underlying inflation remained benign against the backdrop of slowing domestic and global economic growth. The tame inflation environment and moderating economic activity support the Federal Reserve’s decision...
Consumer inflation could get lift from rising gasoline prices
Consumer inflation probably got a boost from rising gasoline prices in March, but it should not break out above the subdued pace that encouraged the Federal Reserve to keep interest rates on hold when it met last month. Both the...
Economist Larry Lindsey defends Trump’s likely Fed nominees
President Donald Trump has said he will nominate Steve Moore and Herman Cain to be members of the Board of Governors of the Federal Reserve system. Both have been criticized as being unqualified for not having Ph.D.’s in economics. The...
Europe slams ‘exaggerated’ US tariff threat and prepares to retaliate
The EU has hit back at new U.S. proposals to target European goods with tariffs, following a World Trade Organization (WTO) ruling over subsidies for Airbus. Trade tensions between the EU and U.S. flared Monday after the U.S. said it’s...
US threatens to slap new tariffs on EU goods in retaliation against Airbus subsidies
The U.S. Trade Representative on Monday proposed a list of European Union products ranging from large commercial aircraft and parts to dairy products and wine on which to slap tariffs as retaliation for European aircraft subsidies. With the move, the...
Modi’s opponent has a radical plan to tackle poverty in India
India heads to the polls starting this week to elect members for the lower house of its Parliament. The outcome, to be announced in May, will determine if Narendra Modi can secure a second term as prime minister. One of...