House passes spending bill with border wall money — setting up shutdown stalemate with Senate
The House passed a temporary spending bill Thursday with money for President Donald Trump’s proposed border wall, further muddying the scramble to dodge a partial government shutdown by Friday. The chamber approved the measure to keep the government running into...
Kevin O’Leary chides the Fed for claiming data-dependence while still forecasting two 2019 rate hikes
Investor and entrepreneur Kevin O’Leary told CNBC Thursday he’s not fond of the Federal Reserve’s plans for interest rates next year. Fed Chairman Jerome Powell “made a mistake” during his highly-anticipated news conference Wednesday afternoon, said O’Leary, chairman of O’Shares...
Two more rate hikes could spark a recession, market researcher warns
He’s been worried the Federal Reserve would go too far. And now, market researcher James Bianco thinks his fear may be a reality. His updated outlook follows the Fed’s decision to plan for additional interest rate hikes next year. Bianco...
US weekly jobless claims rise less than expected
The number of Americans filing applications for jobless benefits rose marginally from near a 49-year low last week, suggesting underlying strength in the labor market and broader economy. Initial claims for state unemployment benefits increased 8,000 to a seasonally adjusted...
David Tepper: Fed is done supporting stock prices, so cash is ‘not so bad’ as an investment now
Hedge fund titan David Tepper said Thursday the Federal Reserve is sending the market a message, and it’s not a good one. A day after the Fed raised interest rates for the fourth time this year, the influential investor made...
Here’s what research shows about immigration’s impact on an economy
Controlling immigration was one of U.S. President Donald Trump’s primary arguments during the 2016 election, with him campaigning to limit entries into the U.S. and proposing building a wall along the U.S.-Mexico border. The political debate continues to rage today:...
Jeff Gundlach and his deputy think Fed’s Powell made a mistake by tightening on ‘autopilot’
Federal Reserve Chairman Jerome Powell made two mistakes during his news conference Wednesday, according to bond king Jeffrey Gundlach. Powell sounded like he was on autopilot when it came to quantitative tightening and he talked too much about economic modeling,...
The Fed thinks economic growth will slow as Trump’s 2020 re-election bid approaches
The Federal Reserve on Wednesday reinforced the notion that U.S. economic growth will likely slow as President Donald Trump’s 2020 re-election bid approaches. While the central bank did not raise fears about an imminent recession, it projected a weaker economy...
Powell says he doesn’t see Fed changing its strategy for shrinking the balance sheet
As the future path of interest hikes gets cloudier, Federal Reserve Chairman Jerome Powell said the balance sheet reduction program will continue to proceed as planned. The Fed currently is allowing $50 billion a month to run off the balance...
Fed now sees just 2 rate hikes in 2019
The Federal Reserve said Wednesday it now expects just two rate hikes in 2019, one less than it had previously forecast in September. In its economic projections, the Fed reduced its forecast for the federal funds rate. It said it...
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