Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread 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
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
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 Patriots released Antonio Brown only 11 days after signing the wide receiver.Sportsread more
The Wall Street Journal's report came as a top Ukraine official said President Donald Trump "is looking" for Ukraine officials to investigate business dealings of Biden's son...Politicsread 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
Gun maker Colt announced Thursday that it will halt its production of AR-15 rifles for civilian sales, but the news might not be as exciting for gun control advocates as it...Guns and Weaponsread more
As thousands of people across the world participate in the Global Climate Strike, several Democratic presidential candidates have shared how they will take aggressive action...Scienceread more
With "tariff man" President Trump waging a tariff war and Democratic candidates pushing against big international deals, free trade has become politically homeless, writes...2020 Electionsread more
The European Central Bank (ECB) is likely to stick to the philosophy of "if you're in trouble, double," when its rate-setting team meets Thursday, according to an economist at one of Germany's biggest banks.
"It's clear for most economists that the QE (quantitative easing) program is not very effective. The central bankers seem to be in the mood that if you're in trouble, double. The ECB is not ready to give in," Jörg Krämer, chief economist, Commerzbank, told CNBC Thursday.
Markets are anxiously awaiting ECB President Mario Draghi's announcement on Thursday of what has been decided at the central bank's governing council's regular meeting. While the bank is expected to keep interest rates at their current historically low levels, the council could extend the time frame for its massive bond-buying program past next March and maybe even announce that it will buy new assets.
The central bank has been trying to push euro zone inflation back to its 2 percent target with a series of measures including: negative deposit rates; a QE program buying 80 billion euro ($89 billion) of European sovereign and corporate debt every month and interest rates close to zero. However, growth remains anaemic in the euro zone and the influx of money into the financial system has not translated into lending to boost growth.
"The QE program doesn't benefit the real economy, but the finance ministers and wealthy people who benefit from rising valuations of apartments and equities," Krämer argued.
There are also concerns that the bank will run out of bonds to buy, with some safe haven German bonds (Bunds), which must be bought in greater proportion than other euro area bonds under the terms of the QE program, yielding less than the ECB's deposit rate of -0.4 percent. One method open to the bank's governing council could be coupling purchases of negative yielding bonds with higher yielding debt.