President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.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
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
's quarreling are failing to help a "very sick" economy, the 2006 Nobel Prize winner for economics told CNBC on Tuesday.
Edmund Phelps, who is currently professor of political economy at New York's Columbia University, said the budget impasse debate was a "fascinating" distraction from the U.S.'s more serious problems of decreased competitiveness and innovation.
"The larger picture is that the American economy has been pretty sick for some time — since the 1970s — and the symptoms of that are low employment and participation, as well as slow growth and probably low job satisfaction. Nobody is addressing what the government could do and should do to fix that problem," Phelps said.
He added that the government was propping up established companies via carve outs, exceptions and regulations that increased barriers to entry in industry.
"New industries cannot get a foothold in the industries that already have these giant companies. Even with regards to start ups aimed at establishing new industries, they are so burdened by a thicket of regulations that as somebody said, if he were a start-up entrepreneur now, he would need more lawyers than engineers… The government is doing a tremendous amount of damage and it is failing to help a very sick economy," he said.
Phelps' comments came one day after Robert Shiller, the newly named 2013 economics Nobel Prize winner, warned that global house prices might be overheating once more.
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—By CNBC's Katy Barnato