The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
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
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread 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
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread 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
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
Treasury Secretary Steven Mnuchin asked for a costly government plane to fly to his European honeymoon earlier this year.
The Treasury's Office of Inspector General is looking into the request, according to ABC News, which first reported the story. Operating such a jet can cost around $25,000 an hour, according to ABC.
Mnuchin considered using a military plane because he needs access to secure communications as part of his national security duties, a Treasury spokesperson told CNBC.
"Treasury withdrew its request after a secure communications option was identified during the Secretary's extended travel," the spokesperson said.
The department inspector general's office is already examining a trip Mnuchin and his wife, Scottish actress Louise Linton, made to Kentucky last month. Mnuchin spoke at an event with Senate Majority Leader Mitch McConnell and examined gold reserves at Fort Knox, but he and his wife also allegedly took time to watch the solar eclipse during the trip.
Linton posted a now notorious Instagram photo of her and Mnuchin getting off a government plane at the end of the trip. She called out the designer brands she was wearing, then responded to an Instagram user with a long-winded comment defending her use of the jet and Mnuchin's contributions to the country.
"Do you think the US govt paid for our honeymoon or personal travel?! Lololol," Linton wrote in part of the comment.
Before becoming Treasury secretary, Mnuchin made his personal fortune as a Goldman Sachs partner, financier and major Hollywood movie producer.