The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
President Trump and Apple CEO Tim Cook have had a rocky relationship in recent years, but Trump is now complimenting the executive publicly.Technologyread more
Here's what Nordstrom reported in their fiscal second-quarter earnings.Retailread more
Apple's move into banking could break a key relationship point between customers and wireless carriers such as Verizon and AT&T, according to MoffettNathanson.Marketsread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
Reps. Rosa DeLauro, D-Conn., and Lucille Roybal-Allard, D-Calif., say they sent a letter to Homeland Security and the Department of Health and Human Services seeking answers.Health and Scienceread more
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
Washington has dramatically increased tensions in talks to renew the North American Free Trade Agreement by proposing that the lifespan of any new deal be limited to five years, people familiar with the negotiations said on Thursday.
The proposal for a so-called sunset clause — just one of a series of U.S. initiatives that are opposed by NAFTA partners Canada and Mexico — only served to increase uncertainty about the future of the deal.
Two sources with direct knowledge of the talks described the atmosphere as "horrible" and highly charged.
The U.S. side proposed the sunset clause late on Wednesday during the fourth of seven scheduled rounds to update the rules governing one of the world's biggest trade blocs, said two officials, who asked not to be identified because the talks are confidential.
The Trump administration says the clause, causing NAFTA to expire every five years unless all three countries agree it should continue, is to ensure the pact stays up to date.
But Mexico and Canada insist there is no point updating the pact with such a threat hanging over it, arguing the clause would stunt investment by sowing too much uncertainty about the future of the agreement.
"It's a source of total uncertainty," said one of the NAFTA government officials.
Speaking in Mexico City, Finance Minister Jose Antonio Meade said the government was working on plans to alter tariffs and identify substitute markets in case the NAFTA talks failed.
His remarks and the tension around NAFTA helped push the peso down 1 percent against the U.S. dollar to a five-month low.
U.S. President Donald Trump says NAFTA, originally signed in 1994, has been a disaster for the United States and has frequently threatened to scrap it unless major changes are made.
Business and farm groups say abandoning the 23-year-old pact would wreak economic havoc, disrupting cross-border manufacturing supply chains and slapping high tariffs on agricultural products. Trade between the United States, Canada and Mexico has quadrupled under NAFTA, now topping $1.2 trillion a year.
In addition to the sunset clause, the United States wants to boost how much North American content autos must contain to qualify for tax-free status and eliminate a dispute settlement mechanisms that Canada insists must stay.
Some trade observers said it is difficult to see how negotiators could reach an agreement given U.S. demands that many see as non-starters.
The head of Unifor, Canada's largest private sector labor union, said it was clear the United States did not want a deal.
"NAFTA is not going anywhere. This thing is going into the toilet," Jerry Dias told reporters on Thursday.
Despite clear signs of impatience from Canada in particular, U.S. negotiators have yet to submit their proposal on rules of origin for the auto sector. That looked unlikely to come before Friday, another official familiar with the talks said.
Trump on Wednesday repeated his warnings that he might terminate the pact and said he was open to doing a bilateral deal with either Canada or Mexico.
He was speaking alongside Canadian Prime Minister Justin Trudeau, who later said Canada was "braced" for Trump's unpredictability.