The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread 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
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
With the Federal Reserve deciding not to cut interest rates but leaving the door open for future cuts, experts are split on what comes next.Trading Nationread more
Russia has confirmed it is building a new hypersonic missile that can be launched from ships or submarines and travel at almost 2 miles per second.
Russian President Vladimir Putin used his state of the nation address on Wednesday to publicly confirm that the cruise missile was well under development.
"This is a hypersonic missile called Tsirkon. It will have the speed of mach 9, it has a range of 1,000 kilometers (620 miles) and can hit navy or land targets."
The Russian leader added the missile could be launched from a ship or submarine and costs would be kept low by its compatibility with the existing Kalibr missile system.
In December, CNBC learned that a U.S. Intelligence report had highlighted testing of the Tsirkon hypersonic system, noting that five tests had been carried out by the Russian military since 2015.
Putin has previously described Russia's hypersonic prowess as "invincible" and accused "those who have fueled the arms race over the last 15 years" of failing to contain Russia.
Publicly confirming the project on Wednesday, the Russian president again took a pot-shot at the West and specifically the United States.
"The U.S. once sought global domination through its missiles program. They should abandon illusions, we will always respond with a reciprocal response," said Putin.
In February this year, the U.S. and Russia both confirmed they would suspend participation in the decades-old Intermediate-Range Nuclear Forces, or INF treaty, which bans ground-launched medium-range missiles with a range of 310-3,400 miles.
The U.S. administration, who withdrew first, said it had taken the measure following Russia's refusal to accept that its SSC-8 missile directly contravenes the Cold War-era agreement.
Addressing the topic Wednesday, Putin said Russia "doesn't threaten anyone" and its military build-up was a defensive measure.
"We do not want confrontation with a global power, especially like the U.S., but it seems like the U.S. doesn't see how the world is changing," he said, before adding that he was ready for further talks on arms control but "we are not going to keep knocking on a locked door."
Now that both countries have suspended the INF treaty, it will expire in August if Washington and the Kremlin don't find agreement.
The White House and the U.S. Department of Defense didn't immediately respond to CNBC's request for comment.
CNBC's Amanda Macias contributed to this report.