Powell repeated his pledge Friday to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
Stocks opened lower on Friday after China said it will slap new tariffs on U.S. goods.US Marketsread more
One area that has been raising alarm bells is the market's growing expectation that inflation will go lower and lower, and stay there for a long time.Market Insiderread more
China says the new tariffs will begin Sept. 1 and Dec. 15. That's when President Trump's latest tariffs on Chinese goods are to take effect.Marketsread more
On Tuesday, Walmart filed suit against Tesla alleging its solar panels had caused fires in seven of its stores.Technologyread more
The idea came up as the White House brainstorms on ways to avoid a preelection economic slowdown, The Washington Post reports.US Economyread more
The Koch brothers financed one of the most influential political networks in the modern era. The sprawling political empire includes conservative and libertarian nonprofits...Politicsread more
At least three members of Facebook's Libra organization are considering leaving the operation due to intense regulatory scrutiny.Technologyread more
Google on Friday released a new set of community guidelines that are meant to crack down on what employees can say inside the company.Technologyread more
Emails between Facebook employees from 2015 illustrate early actions the company took to investigate third-party use of their data.Technologyread more
Andrew McCabe filed a lawsuit alleging that his removal was part of a scheme by President Donald Trump to remove government employees "because they were not politically loyal...Politicsread more
Five years after Lehman's failure nearly toppled the financial system, the Federal Reserve is preparing to take a step back from one of the extraordinary programs it launched to save the economy, a move that has been and could continue to be wrenching for markets.
The Federal Reserve is expected to announce its first move to taper its $85 billion in monthly bond buying when its two-day meeting ends Wednesday. While the Fed is seen curbing bond purchases by an initial $10 to $15 billion — a relative baby step compared to the massive amount of stimulus applied — it sends an important message that the Fed is moving toward a normalization of rates and expecting a more normal economy.
"We have come a long way, and we often forget how far we've come. At the heart of the crisis, people didn't think there was a tomorrow. Now we know, there's a tomorrow. We just don't know how strong it is," said Diane Swonk, chief economist at Mesirow Financial. "Sometimes the cure has its own dangers and you have to look at those tradeoffs. That's where the Fed is. Is the cure good enough for the risks?"
The Fed's bond buying, which has ballooned its balance sheet to $3.6 trillion, has been criticized for adding too much easy money to the economy and over-inflating the stock market. Just talk of a pullback in the Fed's quantitative easing program prompted a swift move up in Treasury yields, and also mortgage rates. Stocks reacted negatively at first to the higher rates, but the pain across emerging markets was much more intense as capital took flight. U.S. stocks have largely recovered, with the now just about 1.2 percent from its all-time high.