An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
Shares of defense companies rose on Monday after the United States military was put on alert by President Donald Trump.Marketsread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
A new research study by the Digital Citizens Alliance shows how easy it is to buy illegal steroids or appearance and performance enhancing drugs (APEDs)Cybersecurityread more
An attack on Saudi Aramco's key oil facility raises questions about whether the schedule for the company's initial public stock offering will go ahead as planned.Energyread more
President Donald Trump signaled Iran is not telling the truth about the drone attacks on Saudi Arabia's largest oil facilities.Oilread more
U.S. Secretary of Energy Rick Perry spoke to CNBC's "Squawk on the Street" on Monday following a series of drone attacks on Saudi Arabia's oil facilities caused the largest...Oilread more
Perry says it's too soon to say whether the U.S. will need to use its emergency crude reserves to offset the surge in oil prices.Oilread more
Consumers in the U.S. prefer Apple's more expensive models, while the standard iPhone 11 appears to be more attractive to buyers in China, according to analyst Ming-Chi Kuo.Technologyread more
The Times updated an article detailing a previously unreported accusation against Supreme Court Justice Kavanaugh from when he was a Yale University student, noting that "the...Politicsread more
The Federal Reserve could reduce the pace of its bond-buying stimulus despite a government shutdown that is preventing the release of key economic data, Richmond Fed President Jeffrey Lacker said Friday.
"We won't be flying blind," Lacker said, pointing to other types of economic reports. "It doesn't help. It'll slow us down a bit."
Also Friday, Minneapolis Fed President Narayana Kocherlakota said the Fed should do "whatever it takes" to drive down U.S. unemployment, even if this means courting concerns of another asset price bubble, or inflation that pops temporarily above its 2-percent goal.
"The labor market remains disturbingly weak. The good news is that, with low inflation, the FOMC has considerable monetary policy capacity at its disposal with which to address this problem," said Kocherlakota, referring to the policy-setting Federal Open Market Committee.
His comments closely followed a speech he gave last week.
"Doing whatever it takes will mean keeping a historically unusual amount of monetary stimulus in place—and possibly providing more stimulus," Kocherlakota said in prepared remarks.
Kocherlakota added that this would be the case "even as" rising asset prices courted concerns of another bubble, or the medium-term outlook for inflation rose above 2 percent, the Fed's stated goal.
(Read more: Why the shutdown could mean no tapering this year)
"It may not be easy to stick to this path. But I anticipate that the benefits of doing so, in terms of employment gains, will be significant," he said.
The Fed stunned markets last month by opting to continue to keep buying bonds at an $85 billion monthly pace, despite widespread expectations it would start to scale back, signaling the end to an unprecedented phase of ultra-easy monetary policy.
Its caution has since appeared to have been vindicated by economic unease caused by political gridlock in Washington.
A standoff between President Barack Obama's Democrats and Republican tea party conservatives triggered a government shutdown and is courting a damaging debt default, if lawmakers fail to raise the U.S. debt ceiling by Oct. 17.
Officials, including from the Fed, warn this could potentially tip the United States back into a severe recession.
Kocherlakota did not refer to the battles in Washington in his prepared remarks. But he did stress the need to act decisively to speed up the pace of U.S. hiring.
"In 2013, the FOMC's goal should be to return employment to its maximal level as rapidly as it can, while still keeping inflation close to, although possibly temporarily above, the target of 2 percent," he said.