The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
President Trump and Apple CEO Tim Cook have had a rocky relationship in recent years, but Trump is now complimenting the executive publicly.Technologyread more
Here's what Nordstrom reported in their fiscal second-quarter earnings.Retailread more
Apple's move into banking could break a key relationship point between customers and wireless carriers such as Verizon and AT&T, according to MoffettNathanson.Marketsread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
Reps. Rosa DeLauro, D-Conn., and Lucille Roybal-Allard, D-Calif., say they sent a letter to Homeland Security and the Department of Health and Human Services seeking answers.Health and Scienceread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
Mohamed El-Erian expected to go quietly. The one-time heir apparent to Pimco investment chief Bill Gross had no idea leaving the firm would create a firestorm, and he gave no real consideration to staying on and working less.
In his most extensive discussion yet about his controversial decision in January to leave Pimco, which has nearly $2 trillion in assets, El-Erian told Reuters: "If I had known that there would be this media circus, I would've done a lot of things differently."
Read MoreGross has had a tough time: Friend
To begin with, he might have considered working part time.
"Was there a way of not going 100 miles an hour and maybe going 50 miles an hour? To be perfectly honest, I didn't explore that option. I never explored it," he said, describing his management style as trying to work as hard or harder than anyone else. A part-time position would have felt "inconsistent" with his style, he said.
El-Erian's departure rocked the investment world, where he was seen as the successor to "Bond King" Gross. Questions arose about the relationship between the two, and plans at Pimco, a unit of German financial services giant Allianz.
His reason for leaving is a cliche of departing executives: the wish to spend more time with family. El-Erian said that he decided it was more important to be a good dad than a good investor.
He realized he needed a change in May 2013, after his then-10-year-old daughter wrote him a list of 22 milestone events in her life he had missed.
In the wake of El-Erian's resignation, Pimco named six deputy chief investment officers, reporting to Gross, who is 70. Previously, there were no other CIOs but Gross and El-Erian.
Pimco investors, who this year have pulled $25 billion from Gross' Flagship Pimco Total Return Fund, the world's largest bond fund, have also been rattled by the shakeup.
Shortly after El-Erian left Pimco, reports surfaced of a highly personal schism between the two long-time colleagues. In March, Gross made several remarks to Reuters questioning El-Erian's investment record and alleged that El-Erian was trying to "undermine" him.
In his interview at Reuters headquarters in New York on Monday, El-Erian declined repeatedly to discuss Gross, beyond describing his former partner as brilliant.
While no longer at Pimco, El-Erian has retained a post with Allianz, serving in the newly minted role of chief economic adviser, where El-Erian said he spends "50 percent of my time and I love it."
El-Erian said he has "no interaction" with Pimco in his new role, even though Allianz has offices near Pimco's Newport Beach, California, headquarters. "That is the right approach to allow for the new leadership, who I respect greatly. None of what I do at Allianz has any connection to them."