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
Many leaders in the Democratic Party are veering too far left and overpromising government programs that are not fiscally possible, Howard Schultz told CNBC on Tuesday.
Without naming names, Schultz said in a "Squawk Box" interview: "It concerns me that so many voices within the Democratic Party are going so far to the left. I say to myself, 'How are we going to pay for these things,' in terms of things like single payer [and] people espousing the fact that the government is going to give everyone a job. I don't think that's realistic."
"I think we got to get away from these falsehoods and start talking about the truth and not false promises" said Schultz, whose Monday announcement that he's stepping down as executive chairman of Starbucks is driving speculation that he may run for president in the 2020 election.
During the 2016 race for the Democratic presidential nomination against Hillary Clinton, Sen. Bernie Sanders, who described himself as a Democratic socialist, supported a single-payer "Medicare for all" policy on health care and other policies that his critics had said would be impossible to pay for.
"I think the greatest threat domestically to the country is this $21 trillion debt hanging over the cloud of America and future generations," Schultz said. "The only way we're going to get out of that is we've got to grow the economy, in my view, 4 percent or greater. And then we have to go after entitlements."
President Donald Trump has made economic growth of more than 3 percent the goal post for success of his economic polices such as tax reform and cutting business regulations, and economic agenda aspirations including getting rid of Obamacare and bringing what he calls a level playing field on trade to the global marketplace.
Schultz, a frequent critic of Trump who also served two stints as CEO of Starbucks, is credited as a pioneer in creating an atmosphere of corporate social responsibility. He has sought to balance the need for public companies to make profits against policies that benefit the well-being of society as a whole.
Corporate social responsibility has recently become a hot topic in boardrooms around the nation after BlackRock chief Larry Fink in January sent a letter to the CEOs of the world's largest public companies, calling for them to help improve society or risk losing support from BlackRock, the world's largest investment company with more than $6 trillion in assets under management.
In CNBC's interview Tuesday, Schultz, who supported Clinton in the 2016 election, addressed his future beyond Starbucks.
"There's a lot of things I can do as a private citizen other than run for the presidency of the United States," he said. "Let's just see what happens."