Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
Markets in Asia fell on Wednesday morning after U.S. Federal Reserve Chairman Jerome Powell tempered expectations for a potential interest rate cut.Asia Marketsread more
In a text message, Grisham confirmed to CNBC that she will still be working for the first lady even as she takes on her new roles.Politicsread more
Acting Customs and Border Protection Commissioner John Sanders is resigning amid the furor over the Trump administration's treatment of migrant children.Politicsread more
NBC is taking the office back from Netflix as it seeks to bolster its own streaming service launching in 2020.Technologyread more
Wayfair employees plan to walk out tomorrow, after no action was taken in response to their opposition to the company supplying border detention camps with beds for children.Retailread more
Commerce Secretary Wilbur Ross, a billionaire who made his fortune investing in distressed assets, is "the MVP of the administration, what he's done on trade," he said. "I give him an A plus. "
Tax reform has been put second on the GOP agenda, behind the effort to repeal and replace Obamacare.
"When you look at the tax policies, I'm still enthused about what Trump is trying to do in terms of tax reform and the Affordable Care Act revisions," the former Honeywell CEO said.
Reducing the tax burden on American companies has been a bipartisan issue. But it's been stuck over how to pay for it.
Trump and the Republicans who control Capitol Hill are pushing corporate tax reform and individual tax cuts.
Two controversial proposals on how to pay for reducing corporate tax rates — eliminating the corporate interest deduction and installing a border adjustment tax on imports — could raise a trillion dollars each over 10 years.
"My guess is at the end of the day there will be a small BAT that will go in. It will go in on a phased basis. They'll be an interest deduction cap because you've got to do something to raise" the money to help pay for the package, Bossidy said.
U.S. corporate taxes need to be reduced to encourage more companies to invest in their businesses, Bossidy said.
"It seems to me that capital spending has been relatively weak through the recovery. One of the reasons is because of the noncompetitive U.S. tax rate in corporations," he said.
"If that were to change, I think it would give an impetus to more capital spending," he continued. "If it weren't to happen, I think it's going to hurt the market in general but it's also going to hurt the economy."