Jerome Powell will "underwhelm everyone and not overwhelm anyone," one economist saysMarket Insiderread more
Activists with Black Lives Matter, who met privately with Buttigieg in the weeks after police shot and killed Eric Logan, say the 37-year-old mayor brushed off their concerns...2020 Electionsread more
The group, whose chairman is J.P. Morgan CEO Jamie Dimon, blamed tension with China and the stalled free-trade agreement with Mexico and Canada for its members' downbeat...Politicsread more
Some worry the regulators will squander an opportunity to crack down on potentially monopolistic behavior due to their own infighting.Technologyread more
Wall Street economists think the Fed will cut rates by 25 basis points at its September meeting but have differing views about what will happen in the future.Marketsread more
Trump's announcement of his fourth national security advisor comes eight days after the abrupt departure of John Bolton.Politicsread more
Central Park Tower is not just a new building – it's a statement. Topping off at 1,550 feet, with 131 floors, it will be the tallest residential building in the world. It may...Wealthread more
Online shopping giant Amazon is betting that some of its customers would rather use cash.Financeread more
The monthly Architecture Billings Index (ABI) from the American Institute of Architects fell to 47.2 from 50.1 in July. Any score below 50 indicates a decrease in architecture...Real Estateread more
The White House budget calls for $3 trillion in deficit reduction, including $1.7 trillion in mandatory spending cuts.
The plan also proposes reducing discretionary spending by 2 percent a year after 2019.
The 2019 budget, however, doesn't balance, marking a reversal from Republican priorities in recent years.
In a summary outline that circulated Monday, the White House said the budget accounts for increased spending caps in the massive $320 billion spending deal hashed out between Republicans and Democrats last week.
The budget also calls for $18 billion to construct a southern border wall, a key part of President Donald Trump's campaign pitch to voters in 2016. The proposal also allocates more than $2.5 billion for additional border-security initiatives, including for more Border Patrol and Immigration and Customs Enforcement staff and expanded capacity for detention.
The administration also released its long-awaited plan to stimulate more than $1.5 trillion in infrastructure projects. The White House budget proposes $200 billion in federal investment that focuses mainly on grants, "transformative projects" and rural infrastructure.
It would also reduce spending for health-care programs Medicare and Medicaid. The budget calls to cut funding for food assistance program SNAP.
Congress ultimately sets spending levels. Many of the budget cuts the Trump administration calls for could not win support in Congress.
Lawmakers recently passed a budget agreement to set spending levels for fiscal years 2018 and 2019, which Congress will have to vote later to appropriate. The bipartisan plan would increase military and domestic spending over the two years.
Office of Management and Budget Director Mick Mulvaney will go before the Senate Budget Committee on Tuesday morning to explain and defend the proposal. The top Republican on that committee, Sen. Mike Enzi of Wyoming, called the White House proposal a "first step" in the 2019 budget process.
"Congress has the constitutional power of the purse and must make the final call on federal tax and spending priorities. I appreciate the President's effort to start the discussion for fiscal year 2019 and improve oversight of government programs," he said in a statement.
Meanwhile, panel ranking member Sen. Bernie Sanders, I-Vt., eviscerated the budget proposal as "morally bankrupt" and "bad economic policy."
"This is a budget for the billionaire class, for Wall Street, for corporate CEOs, for defense contractors and for the wealthiest people in this country. It must be defeated," Sanders said in a statement.
— CNBC's Mike Calia contributed to this report.