Nineteen billionaires release a letter asking the 2020 presidential candidates to support a tax on America's richest families.Economyread more
The Trump administration had argued the president has wide-ranging authority over national security matters.Politicsread more
Sen. Bernie Sanders will announce a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the...Personal Financeread more
Gold surged to its highest level in nearly six years on Monday as the prospects of lower Federal Reserve rates and lingering geopolitical tensions between the U.S. and Iran...Marketsread more
Shares of Ulta Beauty and Sally Beauty dropped on Monday after Amazon launched its own beauty store for professionals.Marketsread more
Goldman Sachs says there's still life left in value investing, especially with the Federal Reserve set to cut rates again.Marketsread more
McDonald's says it gained market share in the informal-eating-out category for the first time in five years, thanks to its nationwide launch of fresh beef.Restaurantsread more
Six women are running for president. Five of them are career politicians. Then there's Oprah-approved self-help guru Marianne Williamson.2020 Electionsread more
The major indexes have stretched to all-time highs and are riding one of their best first halves in decades.Trading Nationread more
As candidates from Elizabeth Warren and Bernie Sanders to John Delaney jockey for position in the 2020 Democratic primary, business issues will come up in the first debates.2020 Electionsread more
The brokerage says that the globe is "one step away" from recession as the world's two largest economies head to the G-20 summit.Marketsread more
The United States economy should grow by another 3 percent in 2019, despite some disappointing indicators that kicked the year off, a top economic advisor to President Donald Trump told CNBC on Tuesday.
If it happens, it would be the second year U.S. economic growth defied expectations.
"We're sticking with our guns. We think we're going to have another 3 percent year," said Kevin Hassett, chairman of the president's Council of Economic Advisers.
Hassett said his agency "took a lot of flak" for predicting 3.1 percent growth for 2018. However, it looks to be "spot on" if the fourth-quarter numbers come in as expected at about 2.5 percent, he said on "Power Lunch. " However, the latest forecast from the Atlanta Fed is 1.5 percent in real GDP growth in the fourth quarter.
The year started off with a partial government shutdown, which the nonpartisan Congressional Budget Office said cost the economy $11 billion, and U.S. consumer confidence in January hitting its lowest reading in a year and a half.
"We started the year with a 300 jobs number and most quarters that start with a 300 jobs numbers in the first month end up with a growth number north of 3 percent," Hassett said. "That's what we're looking for for the year but even the slowing that is in some of the indicators, I don't think is a really serious thing in the first quarter."
Most economists don't agree with Hassett's projection. They expect growth in a 2 to 2.5 percent range this year.
"We are carrying a lot of momentum forward," Hassett contended. "And don't forget that the capital spending that drove growth last year is going to produce output this year. So they built factories last year. They are going to flip the factories on this year and we're going to get growth from that."
Hassett also addressed the surprise many taxpayers are feeling this season thanks to the new federal tax law. Some Americans have expressed dismay that they are getting less back from the government — or owe more money — than expected, despite being promised their taxes would be reduced. In fact, the average refund is down 8.7 percent from a year ago, according to the IRS.
However, Hassett said the Treasury Department already adjusted withholdings last year so that people would see the tax cuts "right away."
"The fact is that people got their tax cuts and they were visible in their checks last February. And that's one reason why we had a 3 percent year," he said.
"Would you rather have your money now or a year from now?" added Hassett, who said the administration will continue to follow the situation closely. "It's really, really early in the season. And we'll have to wait and see."
— CNBC's Jeff Cox contributed to this report.