The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
The risk of a powerful economy overheating is the reason the Fed should stick to its schedule of interest rate increases, Atlanta Federal Reserve President Raphael Bostic said Tuesday.
With the jobless rate running at 3.7 percent and considerably below what is considered full employment, the Fed has to weigh the risks of tightening too quickly and choking off what has been a robust economic run, and waiting too long and risking runaway price pressures.
"And while I wrestle with that choice, one thing seems clear: there is little reason to keep our foot on the gas pedal," Bostic said in a speech delivered to business leaders in Baton Rouge, Louisiana. The reference is to the accommodative policy the Fed has maintained since the financial crisis.
Bostic acknowledged headwinds to growth including tariffs and a strong bout of financial market volatility, against the tail winds of tax cuts and other fiscal stimulus. Stocks were in sell-off mode again Tuesday, though they were well off their morning lows by around 1:15 pm.
"After digging through the data, consulting our economic models, and gathering a Main Street perspective from our extensive network of business contacts, I come away with the sense that economic growth is on a strong trajectory," he said. "It's on solid footing and hasn't been materially pushed higher or lower."
The speech comes as the Fed has hiked its benchmark interest rate target three times this year and is on track for a fourth in December. Current projections from Federal Open Market Committee members point to three more increases in 2019 and one or two more in 2020.
Rhetoric from central bank officials has been mostly hawkish lately. Fed Chairman Jerome Powell said in a recent interview that he thinks the central bank is "a long way" from getting to a neutral rate that is neither stimulative nor restrictive for growth, and minutes from the September meeting pointed to more increases on the way.
Indeed, Bostic said he had a hard time finding synonyms for "strong" to describe the economy.
"That does not mean that the trajectory for the economy is immovable," he said. "There are ample reasons for a central banker like me to be concerned. But, from my perspective, the economy is performing well enough to stand on its own without support from accommodative monetary policy."
Markets will get their first look at the third-quarter GDP reading on Friday. Current expectations are for a reading around 3.3 percent, though the Atlanta Fed's tracker puts the estimate at 3.9 percent.