The lack of clarity surrounding the U.S.-China trade war is what's really hitting global growth, says ex- Deputy Treasury Secretary Sarah Bloom Raskin.World Economyread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Last weekend's attacks on oil facilities — and the spike in crude prices that followed — should show that the world needs to stop relying on oil, says Helen Clark.Energyread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
The U.S. Federal Reserve on Wednesday cut its overnight rate by 25 basis points to a range of 1.75% to 2%, a move that was widely expected. The central bank, however, appeared...Asia Marketsread more
Sen. Bob Corker, R-Tenn., told CNBC on Wednesday that he wants to make sure Federal Reserve Vice Chairwoman Janet Yellen doesn't enable bad policy in Congress should she get the central bank top job. But he conceded she'll be likely confirmed.
"I felt like she was not very modest about role of monetary policy in the economy. I don't see any evidence that's changed," Corker said in a "Squawk Box" interview. The Republican from Tennessee is a member of the Senate Banking Committee—the panel that will hold a hearing on Yellen's appointment, and vote yes-or-no on whether to send her nomination to the full Democrat-controlled Senate. In 2010, he voted against her original nomination to the Fed because of her dovish views.
Coker said he wants to make sure "she doesn't view herself as an enabler of bad policy" within the Congress—referring to the budget stalemate in Washington that has partially shut down the government and kept the Democrats and Republicans apart on increasing the debt ceiling before next week's deadline.
President Barack Obama is scheduled to announce Wednesday afternoon Yellen as his pick to be the next Fed chair. The appointment will come shortly after the central bank releases the minutes from its September meeting, during which policymakers decided against tapering their $85 billion monthly bond-buying program.
"At the end of the day, the [QE] trade is halfway on. It's hard to say what the effects are going to be," said Corker. "It's kind of like halftime in the national championship."
He added he wants to "understand how she expects to get out of the trade. Why there wasn't tapering that took place [in September]; when will it take place; any evidence that quantitative easing is actually working relative to employment."
"I look forward to learning what her views are," he continued. "But again, I've seen nothing to change my view of where she is relative to monetary policy in the last two or three years." Despite his views on Yellen, Corker said, "I shouldn't say this, but in all likelihood, she will" be confirmed.
In a separate "Squawk Box" interview Wednesday, Rep. Chris Van Hollen, D-Md., the top Democrat on the House Budget Committee, echoed those sentiments: "I think it's going to be relatively easy."
"She's got a stellar background and record, experience to do the job. My sense is that it could be a continuation of the kind of policies we've seen under Ben Bernanke," Van Hollen said. "Some people may not like that. [But] I happen to think that the Bernanke policies have helped shelter this economy during a very bad storm."