After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
See which stocks are posting big moves after the bell.Market Insiderread more
"I'd love to say that the optimistic universe is most likely to prevail, but the talking heads talk endlessly about how a recession is inevitable," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Read the fine print in your Apple Card contract — one clause means you give up your right to be heard in court.Technologyread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
Jim Nussle, a former director of the Office of Management and Budget, told CNBC on Wednesday that a strong U.S. consumer is the only thing keeping the country from recession.Marketsread more
Former top White House economic advisor Gary Cohn is pushing back slightly at an explosive new book about the Trump administration by journalist Bob Woodward.
It's been a week since excerpts from the book first emerged portraying Cohn as one of the central characters in some dramatic scenes. Woodward describes Cohn sneaking into the Oval Office and removing a one-page letter from the president's desk addressed to the South Korean president. He then quotes Cohn telling an associate he didn't want the president to see it. "He's never going to see that document. Got to protect the country."
The news site Axios reported on Tuesday that Cohn is questioning the book as it portrays him.
"This book does not accurately portray my experience at the White House," Cohn told Axios in a statement. "I am proud of my service in the Trump Administration, and I continue to support the President and his economic agenda."
Part of President Donald Trump's trade agenda involves trade skirmishes with other countries, and tariffs on steel, aluminum and other products imported from a number of key U.S. trading partners. Tariffs on steel and aluminum were reportedly the reason Cohn decided to quit his White House perch after just a year or so on the job. Before leaving, he did help push through the president's tax cut.
Cohn was president of Goldman Sachs before his White House gig. Woodward's book describes him as trying to salvage trade deals between the U.S. and Korea and the U.S. and Canada and Mexico by swiping documents from Trump's desk that would have withdrawn or proposed to withdraw the U.S. from long-standing agreements.
Axios also reported Tuesday that former White House staff secretary Rob Porter, who is portrayed in the book as having discussed the documents with Cohn, is also responding, telling the site that the book is "selective and often misleading."
Woodward told Axios he stands by his reporting.