Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
China is reducing support for its electric carmakers a move experts and industry insiders warn could lead to consolidation and waning investor appetite. But some of the...Technologyread more
Is your CEO on the list? Glassdoor has the results.Power Playersread more
Joseph Gaspar, the chief financial officer at Elbit Systems, said M&A among firms in the sector began to pick up pace in the 1980s and looks set to continue.Paris Air Showread more
Stocks in Asia rose on Wednesday following positive developments overnight on the U.S.-China trade front.Asia Marketsread more
Signs of companies moving out of Hong Kong have emerged, members of the business community told CNBC following massive protests in the city. But one analyst said Hong Kong's...China Politicsread more
Sen. Josh Hawley, a well-known tech critic, introduced legislation on Wednesday that would remove the immunity big technology companies receive for user-posted content under...Technologyread more
In its new "Future Skills" report, LinkedIn has identified what it calls the 10 "rising skills" of the future and the jobs associated with them.Get Aheadread more
Democratic Rep. Maxine Waters on Tuesday requested that Facebook pause its development of Libra, an upcoming cryptocurrency that the company plans to release in 2020.Technologyread more
Instability in exchange rates remains the biggest obstacle toward more widespread cryptocurrency acceptance, St. Louis Fed President James Bullard said Monday.
Bitcoin and its growing legion of competitors have been on a highly volatile ride, particularly over the past year and a half or so. At one point in 2017, one bitcoin was going for nearly $20,000, and is now trading for less than half that.
Such a lack of uniformity has kept speculators heavily active in crypto trading. However, Bullard said it likely also will drive away consumers and businesses.
"The exchange rate problem is a big deal, because you don't know how they're going to trade against each other," he told CNBC's Seema Mody from the sidelines of the Consensus conference in New York. "That happens even with big-time currencies like the yen and the dollar."
Many of those major nation-state currencies haven't experienced anything close to what's happened with cryptos.
However, some, like Venezuela and Zimbabwe have, due in large part because they didn't control the issuance of their currencies and ended up with hyperinflation, Bullard said.
While bitcoin has a finite level set on ultimate issuance, the crypto space has struggled to keep investor confidence about maintaining value.
"You've got this kind of special problem of who's going to issue the currency and what are those promises about future issuance and can you really maintain the credibility of those promises," Bullard earlier told audience members at the conference. "If you can't, the value of your currency is going to zero the same way the Venezuelan bolivar has."
Bullard said it's not likely at this point that the Fed will introduce its own digital currency, as some have suggested. He expressed confidence that the dollar is not threatened by cryptos, though his presence at the conference suggested the central bank is watching developments.
"The drift to a nonuniform currency could become a serious issue for the U.S. if cryptocurrencies take up a large volume of trade," he said. "You could imagine going into a story and now you have 10 different ways or 100 different ways that you can pay. That is exactly what people have not liked historically. ... They want a uniform thing — a dollar is a dollar."