Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
"Sure, the trade war's taking its toll on business ... it's just not taking its toll where it was supposed to," Jim Cramer says.Mad Money with Jim Cramerread more
Joe Biden called on President Donald Trump Friday to release the transcript of a call with a foreign leader that is the subject of a whistleblower complaint. Biden described...Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Palantir Technologies is targeting a valuation of at least $26 billion in a private fundraising round, the first for the Peter Thiel-backed data analytics startup in four...Wall Streetread more
Michael Pack, a conservative filmmaker linked to Steve Bannon, saw at least $1.6 million in donations from his nonprofit sent into the coffers of his independent production...Politicsread more
The New England Patriots released Antonio Brown just 11 days after signing the wide receiver. The NFL Super Bowl champion team initially had kept him in the face of a rape...Sportsread more
A tour bus carrying Chinese-speaking tourists crashed near a national park in southern Utah, killing at least four people and critically injuring up to 15 others, authorities...U.S. Newsread more
Federal Reserve Bank of Kansas City President Esther George said Wednesday it's important for the nation's central bank to understand this week's extreme stock market volatility, but cautioned that markets are focused on the near term.
Asked whether the market movements will influence the Fed's decision to raise rates, she said, "Policymakers are always trying to divine whether the forecast should adjust because of what they've seen. I think you have to be particularly careful when markets move, whether that is a signal of something more fundamental or whether it is a readjustment of some sort."
She reiterated her long-standing view that the Fed should normalize interest rates.
"This week's events complicate the picture but I think it's too soon to say it fundamentally changes that picture, so in my own view, the normalization process needs to begin and the economy is performing in a way that I think it's prepared to take that."
George spoke to CNBC in an interview from Jackson Hole, Wyoming on Wednesday ahead of the Fed's annual retreat. She is not a voting member of the Federal Open Market Committee, which could vote at its September meeting to raise interest rates for the first time in nine years.
The Fed has held its benchmark fed funds rate near zero since December, 2008.
On Wednesday, New York Federal Reserve President William Dudley said a rate hike looks less compelling than it had a few weeks ago in part due to market volatility.
George said it was important to remember markets have been in a period of a highly accommodative policy and the Fed had put in place tools that were targeted at asset values.
"When you affect those kind of prices for a long period of time, I expect we're going to see that kind of volatility," she said. "And so the question is to what degree, and how are we positioned to deal with that?"
George acknowledged that the Fed's monetary policy in recent years has influenced asset values, but asserted the central bank was clear about how quantitative easing would impact markets.
"Whether that means assets are overpriced, I don't know. But I do know it introduces an important factor to how assets are priced in the economy."
Disinflationary pressures will likely continue for some time but they are likely transitory, George said. The economy should be able to move past those pressures as the economy and labor markets continue to improve, she said.