Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Boris Johnson will be meeting President Donald Trump to discuss a potential post-Brexit trade deal just as he tries to court EU leaders for a new withdrawal agreement.World Politicsread more
U.S. Secretary of State Mike Pompeo says Huawei CFO Meng Wanzhou, who is under house arrest in Canada and facing extradition to America, is not a bargaining chip in the trade...Technologyread more
Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Accountants in Hong Kong took to the streets on Friday to call for the government to accept five demands of the people, including the complete withdrawal of a now-suspended...China Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
The unlikely alliance would in theory enjoy a relatively comfortable majority in the parliament's lower house but would rely on a handful of sympathetic but unaligned...Europe Politicsread more
Bank Indonesia on Thursday cut its key policy rate by 25 basis points to 5.5% to support growth amid an increasingly fragile global economy.Central Banksread more
Meanwhile, investors look ahead to Fed Chair Jerome Powell's speech at a yearly central banking symposium in Jackson Hole, Wyoming.Asia Marketsread more
The U.S Energy Information Administration (EIA) says Australia is on track to consistently export more LNG than Qatar.Oil and Gasread more
The government's strong reading on July job growth is not a sign that the economy is fixed, said David Malpass, a newly announced senior economic advisor to Donald Trump.
"You can't look at one month and say I'm not going to do an improvement in the economic program," Malpass told CNBC's "Squawk Box" on Friday, shortly after the Trump campaign announced that Malpass was among a newly created economic team.
"You need tax cuts. You need trade reform. You need to have regulatory reform [and] energy reform. All those are critical to the long run of the economy," said Malpass, president of economic and market research firm Encima Global.
Earlier Friday, the Labor Department reported that the economy created 255,000 new nonfarm jobs last month. The number was much better than expected. The unemployment rate held steady at 4.9 percent. Forecasts had called for a 4.8 percent rate.
"The big problem is the participation rate is still really low," Malpass said. "What you have is a lot of people being left out of the upturn." While still at generational lows, the government report showed the labor participation rate moved slightly higher.
"[Overall] these are great numbers this morning. We got to say some parts of the economy are doing well, " he conceded "[But] I think the economy is flat, meaning there's not a strong business cycle."
In addition to Malpass, other members of Trump's economic team include hedge fund titan John Paulson, oil billionaire Harold Hamm, and Peter Navarro, an economics professor at the University of California, Irvine.
Trump plans to deliver a major economic policy speech in Detroit on Monday, providing more details on his proposed tax cuts, energy reform and health-care changes.
"We want to get an economy that's hot enough to bring people in. We want an economy that sucks younger workers [and] minorities workers in," said Malpass.