Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Former Council of Economic Advisers chairman Austan Goolsbee told CNBC on Wednesday that it would be a "terrible, terrible idea" to gut banking regulations and go back to the days before the financial crisis.
"You can't look back at the worst financial crisis of our lifetimes that started in 2008 and not have some important lessons about the critical nature of oversights in financial markets and institutions," said Goolsbee, who served on the Council as part of the Obama Administration. "It probably won't blow up the world in the next six months, but it puts you on a track where within a decade, we'd be very likely to have another financial crisis."
Many on Wall Street believe that repealing or weakening the Dodd-Frank banking regulations, which were put in place following the crisis, could boost the economy. One of those voices is Steve Mnuchin, Donald Trump's choice for Treasury secretary, who told CNBC that he wants to "strip back parts of Dodd-Frank" that prevent banks from lending.
Specifically, Mnuchin said he opposes parts of Dodd-Frank that put smaller and regional banks under similar scrutiny as the biggest Wall Street banks.
Asked whether he believes that Trump's picks, such as Steve Mnuchin or Wilbur Ross, could repeal the law, Goolsbee said Congress would actually play a bigger role regarding the future of Dodd-Frank.
"One of the most interesting things that I'm seeing of the Trump picks is such a heavy business and financial focus. I can't help but feel like this is going to throw a lot of policy weight and details back to Congress, because these are not people who have a lot of experience drafting legislation," Goolsbee said. "So then, that makes me ask, what do Republicans in the House think? And there, I think they'd probably be up for repealing Dodd-Frank."
— CNBC's Jeff Cox contributed to this report.