Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
Target CEO Brian Cornell still thinks the U.S. consumer is strong and spending. Target's latest quarterly results showed the big-box retailer is benefiting from that.Retailread more
President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
Trading volumes this week are well below their recent averages and that means this comeback may be suspect.Marketsread more
Bank of America CEO Brian Moynihan is not worried about an economic slowdown, saying the U.S. consumer is still in a strong place.Banksread more
In a second-round of tweets aimed at the U.S. central bank, the president asked, "WHERE IS THE FEDERAL RESERVE?"Marketsread more
J.P. Morgan Chase customers will no longer be able to pay with their phones in stores beginning next year.Marketsread more
Gluskin Sheff's David Rosenberg predicts one of the strongest parts of the U.S. economy will disappoint Wall Street and lead to a market meltdown.Futures Nowread more
Target CEO Brian Cornell says he's encouraged by Trump's decision to postpone some consumer-oriented tariffs that were supposed to start Sept. 1.Retailread more
Update: Following the mass shooting late Sunday in Las Vegas, the White House on Monday announced that Vice President Mike Pence would take the president's place at this event.
President Donald Trump will hold a "cut the red tape" event at the White House on Monday, highlighting the administration's efforts to eliminate what Trump sees as burdensome government regulation of private businesses.
The event will "highlight the president's broader initiatives on regulatory reform," a senior administration official told reporters on Friday, and show that "the regulatory burden is being lifted, that agencies are working hard at accomplishing the president's directives, and that this is making a difference both to the economy and to job creation."
Trump will not announce any new initiatives, merely emphasize what's already being done. Later in the day, 10 federal agencies will hold breakout sessions to discuss specific actions they're taking to roll back regulations.
Trump, like scores of Republicans before him, campaigned for president on a promise to reduce government regulation on businesses. Since taking office, Trump has largely followed through, either withdrawing or delaying more than 800 proposed regulations in just his first five months, according to the Associated Press.
He has also issued a moratorium on new regulations, and a number of executive orders designed to hinder the regulatory rule-making process.
Naomi Rao, administrator of the Office of Information and Regulatory Affairs, said that federal agencies are also ahead of schedule in their quest to fulfill one of Trump's signature campaign promises: To eliminate two existing regulations for every new rule his administration enacted.
"We are making good on that promise at OIRA," Rao said. "So far, we've finalized four new regulatory rulemakings, and 10 deregulatory rulemakings." The results have been "quite remarkable," she said.
Rao told reporters that since January, the Trump administration has achieved $300 million in annualized cost savings from regulatory reforms. But neither Rao nor a senior official on the call could explain how the administration reached the figure of $300 million, except to say that it was tabulated by career OIRA staff.
Trump will deliver his remarks from the East Room of the White House during the 11AM hour, officials said.