The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread more
The central banker was asked why inflation has been so low since the financial crisis.
"It's a global phenomenon. We don't perfectly understand it. Since the [financial] crisis, a big factor that has been weighing down inflation is just the weakness in the economy. You had a lot of slack and the economy has not been tight," Powell said Thursday during his testimony to Senate Banking Committee.
"There are other stories. There's the Amazon effect story. There's global slack. The idea that slack around the word is affecting the tightness of the U.S. labor market. [It's] really hard to tie those down from an empirical standpoint, but they may be having some sort of an effect on inflation," he said.
Amazon's market share of U.S. retail sales is rising. The e-commerce juggernaut generated 44 percent of all U.S. e-commerce sales last year, or about 4 percent of the country's total retail sales figure, according to data from One Click Retail. Consumers are gravitating toward online sales due to lower prices and wider selections versus physical store retailers.
The central banker also cited currency and energy commodity prices as factors for low inflation during the past decade.
"We also had the strong dollar and lower oil prices in '14 and '15. That pushed down [inflation]," Powell said.