Stocks surged after President Donald Trump said he will be meeting with his Chinese counterpart, Xi Jinping, at the upcoming G-20 summit.US Marketsread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
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The yield on the benchmark 10-year Treasury note fell to its lowest level since September 2017 as the Fed began its two-day policy meeting.Bondsread more
Investors bracing themselves for lower Federal Reserve rates should think about loading up on health care stocks, history shows.Marketsread more
AirDrop is being used by young people to send memes to strangers, which is fun, but it's also being used to send nude pictures to strangers.Technologyread more
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Trump went after Draghi for opening the door for more monetary stimulus in Europe, which would weaken the euro relative to the dollar.Marketsread more
Private equity billionaire David Rubenstein says he's spoken with U.S. and Chinese officials. "My view is both sides want a deal."Economyread more
A top Federal Reserve official said Thursday he is "comfortable" with raising the federal funds rate "soon," as concerns about low inflation and global risks are not persuasive enough to keep interest rates near zero.
"I'm comfortable with moving off zero soon," said Atlanta Fed President Dennis Lockhart in prepared remarks.
Lockart, a voter on the Fed's policy-making committee, added that it seems "appropriate to begin a new policy phase." The U.S. economy has shown solid signs, and a rate hike should affirm that the "economic outlook is positive," he said.
Lockhart echoed other U.S. central bank officials in stressing that he expects gradual rate increases after the first hike. Following the speech, he told reporters the Fed may need to change its criteria for progress on inflation after it starts raising rates.
Traders continue to seek guidance on whether the Fed will move from near-zero rates at its policy meeting next month. The Fed has held the federal funds rate there since the aftermath of the global financial crisis.
Minutes from the Fed's October meeting released Wednesday showed most officials rallied behind a possible December rate hike.