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
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
Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook spoke to the central bank about the digital currency called LibraThe 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
The vote makes Mexico the first of the three countries to win legislative approval for the trade agreement.Politicsread more
Resident "Fast Money" crypto expert Brian Kelly breaks down the major differences between bitcoin and Facebook's new cryptocurrency Libra.Fast Moneyread more
Oracle found revenue growth from cloud applications in its fiscal fourth quarter, which helped it surpass analysts' expectations.Technologyread more
For those who want more power, the new Gran Coupe comes with a brutish, 523-horsepower twin-turbo V-8.Autosread more
American Airlines is the first major U.S. airline to order Airbus' new long-range, single aisle aircraft.Paris Air Showread more
In its bid to lure the NFL's Raiders from Oakland, Las Vegas earlier this year ponied up a $750 million taxpayer subsidy for the $1.9 billion relocation — a move that stirred controversy and renewed the debate about public financing of sports venues.
Yet if it were up to the owner of the city's new hockey team, the Golden Knights, taxpayer money wouldn't be spent on building sports stadiums at all.
"We can better spend that money on firefighters, teachers, and policeman," Bill Foley told CNBC's "Power Lunch " in a recent interview. "Let's have the best of that as opposed to building the big stadium."
Unlike the Raiders stadium, the $375 million T-Mobile Arena on the Vegas Strip, now home to the Golden Knights, was funded entirely by MGM Resorts International and Anschutz Entertainment Group. Meanwhile, T-Mobile is paying millions a year for the naming rights, a fact about which Foley expressed some pride.
"We had no tax payer funded dollars," he told CNBC.
Foley, however, chided the GOP's new tax plan. A provision in the new law allows pro sports leagues and team owners to continue using tax-exempt municipal bonds to fund projects like sports stadium construction and renovation.
That could benefit projects like the NFL's deal to send the Raiders to Las Vegas, where a new stadium for the team is currently under construction.