Wall Street economists are anxiously awaiting Wednesday's FOMC meeting.Marketsread more
Normally, when the Fed starts loosening policy it does so amid clear-cut signs of economic weakness.Economyread 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
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
CNBC's Jim Cramer connects the dots by reasoning that if the president were to act, he would pick a successor to Powell that would do his bidding.Economyread more
Judy Shelton said in an interview that, if appointed to the Fed, she would want to lower interest rates all the way down to 0%.The Fedread more
Shoppers are "very nuanced in their expectations," Ron Johnson, the former CEO of J.C. Penney and the former senior vice president of Apple's retail division, said at CNBC's...Evolveread more
Beyond Meat has blown up. The plant-based meat company is now larger than 80 S&P 500 companies, including Macy's, Xerox and Mylan.Trading Nationread more
We've been given plenty of reasons to quit Facebook, including a new report that alleges disgusting working conditions at a company, Cognizant, it uses to employ contractors....Technologyread more
This just might be Fed Chair Jerome Powell's toughest meeting yet, because whatever the outcome, odds are high that it will disappoint a large group.Market Insiderread more
These are the stocks posting the largest moves midday.Market Insiderread more
A new government report calls China the top cyber-espionage threat to government agencies and U.S. businesses, and warns that the country has "the ability to launch cyber attacks that cause localized, temporary disruptive effects on critical infrastructure — such as disruption of a natural gas pipeline — for days to weeks in the United States."
A day after two landmark indictments against against China's Huawei, the Senate heard from leaders from the CIA, Office of the Director of National Intelligence, National Security Agency and FBI on the increasing threats from China, as well as new cyberthreats posed by Russia, Iran and North Korea.
Legislators also discussed actions beyond the criminal cases like those brought against Huawei, including legislation meant to combat cyber espionage and other threats. Huawei and China responded to the Justice Department's allegations early Tuesday, questioning the allegations and saying they have tried to cooperate with U.S. authorities with little response.
The Senate hearing gave new insight into the scope of the worst global cyberthreats, and some insight into action legislators and intelligence officials might take to prevent it.
China was called out in the the Worldwide Threat Assessment, a yearly report by the U.S. intelligence community released at Tuesday's hearing.
The report was commissioned by the Office of the Director of National Intelligence, an umbrella organization that coordinates all the U.S. intelligence agencies.
It also reported China is "improving" cyberattack capabilities and its ability to create influence campaigns, including "altering information online, shaping Chinese views and potentially the views of U.S. citizens."
Sen. Mark Warner, D-Va., cited the ODNI report and Huawei cases as cause to move forward with legislation meant to lessen China's cyber-espionage activities.
Warner warned of consolidation of Chinese Communist Party power under President Xi Jinping, and an economic policy focused on beating the U.S. in areas like artificial intelligence and 5G.
Warner and Sen. Marco Rubio, R-Fla., proposed a bill that would create an Office of Critical Technologies & Security. The agency would educate business leaders about "the threats to U.S. national security posed by the improper acquisition and transfer of critical technologies by foreign countries and reliance on foreign products — such as those manufactured by Chinese telecom companies ZTE and Huawei — that jeopardize the overall security of private sector supply chains."
Several federal agencies already perform these functions within the U.S. government, including DHS, the FBI, NSA and the Secret Service. It is unclear how the Office of Critical Technologies & Security would interface or include these agencies.
China was not the only nation called out by the report.
The intelligence agencies also said Russia has been testing U.S. infrastructure and attempting to determine weaknesses that could be used to launch a destructive cyberattack. "Moscow is now staging cyber attack assets to allow it to disrupt or damage US civilian and military infrastructure during a crisis," according to the ODNI.
"Russia has the ability to execute cyber attacks in the United States that generate localized, temporary disruptive effects on critical infrastructure — such as disrupting an electrical distribution network for at least a few hours—similar to those demonstrated in Ukraine in 2015 and 2016," according to the report.
FBI Director Christopher Wray said Russia is also continuing to use social media platforms to continue influence campaigns, including the 2018 midterms. "Not only did they continue to do it, they are continuing to adapt their model and other countries are taking interest [in conducting similar campaigns]," he said.
U.S. social media companies like Facebook and Twitter are increasingly — but tentatively — cooperating with U.S. intelligence on monitoring for misinformation campaigns, said ODNI director Dan Coates.
"Our tech teams are working with their tech teams. I can't say that's worked with every social media company, but it's significantly better because there is information we can provide them that's in their benefit. I'm encouraged — having made some trips to several of these companies — with the openness and willingness to see what we can do," said Coates.
Iran has similarly been testing social media, influence campaigns and "temporary disruptive effects, similar to its data deletion attacks against dozens of Saudi governmental and private-sector networks in late 2016 and early 2017," according to the ODNI.
North Korea is presently attacking banks and other financial firms in order to steal funds for government operations, in the face of global sanctions that have severely limited its import/export capabilities. "Pyongyang's cybercrime operations include attempts to steal more than $1.1 billion from financial institutions across the world — including a successful cyber heist of an estimated $81 million from the New York Federal Reserve account of Bangladesh's central bank," according to the ODNI.