Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
Richard Fisher, former Dallas Fed president, told CNBC on Tuesday that he would like to see central bankers get interest rates up to 3 percent in case economic growth really slows and they need to cut the cost of borrowing money.
Fisher expects the Federal Reserve next week to hike its benchmark fed funds rate, what banks charge each other for overnight loans, by a quarter point for the fourth time this year. That would bring the target range up to 2.25 to 2.5 percent.
Getting to Fisher's 3 percent threshold would mean additional rate increases next year.
After its latest hike in September, the Fed had forecast three moves in 2019. But with signs of pockets of weakness in the economy and recent turmoil on Wall Street, the market puts low odds on any hikes next year.
"Central banks are no longer running accomodative monetary policy. [But] they have yet to put enough nuts in the tree before winter comes," Fisher said in a "Squawk on the Street" interview. "If we don't get enough nuts in the tree — that is interest rate increases — you get a downturn [in the economy] what do you have to turn to? That's going to be the real issue. That's what I worry about in the long run."
Fisher, currently a senior advisor at Barclays, said the underlying economy as of now remains solid. But the cycle will eventually turn, he added, arguing that if rates are not high enough there won't be adequate cushion to lower them should the Fed need to shift into a supportive role again. "I would like to see them get up to 3 [percent.] At the same time, you're reducing the balance sheet. And that gives you room."
However, in a CNBC interview Monday, former Trump economic advisor Stephen Moore disputed the strategy that Fisher and others advocate, saying, "The Fed is what's going to put us in the next recession if they keep raising."
"The only thing that really worries me about the economy right now is what the Fed is doing," said Moore, co-author with conservative economist Art Laffer of the book "Trumponomics."