Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
The Federal Reserve should start tapering its massive bond-buying immediately, because the program is creating unhealthy asset inflation, real estate mogul and investor Barry Sternlicht told CNBC on Tuesday.
"All my friends who are money managers," he said, "they're much closer to the sell button than they ever were before," especially, since the has gained about 24 percent so far this year.
(Read more: S&P up 24 percent in 2013. What's next?)
"If they get nervous, you could see corrections. The volatility will come back instantly," added Sternlicht—chairman and CEO of Starwood Capital Group, which has $29 billion in assets under management.
"If you created a long-term plan for our economy that had some reasonableness ... not fake math, I think the capital markets would zoom," he contended in a "Squawk Box " interview. "I think we'd have a hell of a run here, because there's so much liquidity. There's so much money that wants to be put to work."
While the Fed's $85 billion monthly bond-buying has helped his business, Sternlicht said, "they should knock this off. This is bad. This is a heroin addiction. The more you get on it, the worse it's going to get; the more asset values inflate."
"The Fed is really playing a dangerous game," he added. But as a businessman, he admitted he's doing as many deals as he can while the central bank remains accommodative.
(Read more: Fed's Bullard: $1 trillion a year QE pace 'torrid')
"You have a subsidized interest rate curve. Property yields are sticking higher than they ought to be because everybody expects rates to go up. So you have this moment in time if you deploy capital and lock in debt, your spread is artificially wide—between the yield, let's say, 6 percent, 7 percent on a property and I can borrow at 2.5 percent to 3 percent."
But while helping the wealthy, the near-zero interest rate environment has been hurting savers, Sternlicht said.
"Why don't they [the Fed] increase short rates? If they increase short rates, the long-end probably doesn't go up very much. It actually may stay here because it's weak. But at least it'll give my parents a reason to buy CDs and not invest in stuff they don't understand."
Sternlicht said outgoing Fed Chairman Ben Bernanke didn't taper bond purchases in September, because he knew what was coming with the debt ceiling fight, "and with [Janet] Yellen coming in, let it happen on Yellen's watch not on his watch. Let her taper," he said.
Bernanke will be stepping down as Fed chairman on Jan. 31 at the end of his second four-year term. Last month, President Barack Obama nominated Yellen—the central bank's No. 2—to the top post. She's awaiting her confirmation hearing.