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
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
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
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread 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 the Federal Reserve deciding not to cut interest rates but leaving the door open for future cuts, experts are split on what comes next.Trading Nationread more
Slack's public market debut on Thursday will generate billions for venture firm Accel and healthy returns for Andreessen Horowitz and Social CapitalTechnologyread 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
Oracle found revenue growth from cloud applications in its fiscal fourth quarter, which helped it surpass analysts' expectations.Technologyread more
"They don't really matter today; they're just not big enough. There isn't close enough volume to matter," Powell told the Senate Banking Committee at his confirmation hearing for the central bank's top job. Trump picked Powell to succeed current Chair Janet Yellen once her term ends in February.
Cryptocurrencies have become very popular over the past year as their values have skyrocketed. Bitcoin and ethereum — two of the most widely traded cryptocurrencies, are up 1,255 percent and 5,000 percent, respectively.
Bitcoin in past year
But despite their massive surges, bitcoin's market cap is $168 billion, while ethereum's totals $45.3 billion, according to Coinmarketcap. By comparison, the 's market cap is well in the trillions of dollars.
Some of the most well-known figures on Wall Street, including Fundstrat's Tom Lee and value investor Bill Miller, have warmed up to cryptocurrencies, more specifically to bitcoin. Others, however, are still not sold on crypto. On Monday, Citadel's Ken Griffin told CNBC that bitcoin may be in a bubble.
Powell said Tuesday that "in the long, long run, cryptocurrencies and things of that nature could matter," adding that blockchain — bitcoin's underlying technology — could be something that "may have significant applications in the wholesale payments part of the economy."