Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook spoke to the central bank about the digital currency called LibraThe Fedread more
American Airlines is the first major U.S. airline to order Airbus' new long-range, single aisle aircraft.Paris Air Showread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Tech trade organizations on Wednesday pushed back at a new bill proposed by Sen. Josh Hawley, R-Mo., that would fundamentally alter the business models of tech companies such...Technologyread more
Beyond Meat has blown up. The plant-based meat company is now larger than 80 S&P 500 companies, including Macy's, Xerox and Mylan.Trading Nationread more
Chesley "Sully" Sullenberger told a congressional panel that pilots should receive simulator training before flying the Boeing 737 Max.Airlinesread more
New York Mayor Bill de Blasio and Sen. Cory Booker, D-N.J., both denounced Biden by name in a break with the practice most Democrats have followed on the trail thus far. De...Politicsread more
The Federal Open Market Committee's quarterly economic forecast includes the so-called dot plot of where members see interest rates heading.The Fedread more
The United States is targeting Chinese and Russian entities and individuals with new sanctions in its push to pressure North Korea to back off its nuclear ambitions.
The on Tuesday said it would target 10 entities and six individuals who help already-sanctioned people aiding North Korea's missile program or "deal in the North Korean energy trade." The U.S. also aims to sanction people and groups that allow North Korean entities to access the U.S. financial system or helps its exportation of workers, according to the Treasury.
"Treasury will continue to increase pressure on North Korea by targeting those who support the advancement of nuclear and ballistic missile programs, and isolating them from the American financial system," Treasury Secretary Steven Mnuchin said in a statement. "It is unacceptable for individuals and companies in China, Russia, and elsewhere to enable North Korea to generate income used to develop weapons of mass destruction and destabilize the region."
As the isolated regime continues its nuclear and missile tests, the U.S. has sought to use economic pressure from China — Pyongyang's only major ally — to force a change in behavior.
Earlier this month, tensions between the U.S. and North Korea ratcheted up after President Donald Trump warned he would respond to threats with "fire and fury." The president and North Korea's state media agency escalated their rhetoric for several days before toning it down since.
Top U.S. officials say they do not want to take military action against North Korea unless it is a last resort. Getting China to cooperate is seen as a key part of a diplomatic solution.
Earlier this month, the United Nations Security Council voted unanimously to sanction North Korea, on top of already imposed sanctions. That measure got the support of both China and Russia.
Trump's "fire and fury" rhetoric this month came after reports that Pyongyang had successfully developed a nuclear weapon small enough to fit with its intercontinental ballistic missiles.