Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia edged up Monday morning as U.S. Treasury yields bounced higher after plunging last week which sent markets into a panic.Asia Marketsread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...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
The hearing will now begin next Monday to allow time for the completion of a previous trial that revolves around former 1MDB unit SRC International, a Kuala Lumpur High Court...Asia Newsread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Trump's is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings.Europe Politicsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
While continuing to avoid direct comment on the president's withering criticism of central bank interest rate policy, Powell told CBS' "60 Minutes" that Trump can't remove him from office.
"The law is clear that I have a four-year term, and I fully intend to serve it," Powell told the news magazine show. Asked directly if he thought Trump could fire him, he said, "no."
A series of interest rate hikes in 2018 drew the president's wrath, even though he nominated Powell to the Fed position after choosing not to put up former Chair Janet Yellen for a second term. The Fed under Powell unanimously approved four rate hikes in 2018, continuing a move toward policy normalization that Yellen began in December 2015. Trump has said the rate hikes are the biggest threat to U.S. growth.
During that period, the U.S. saw its best economic gains in a recovery that began in mid-2009. GDP rose nearly 3 percent for the year, though most economists see that cooling off in the years ahead.
In that regard, Powell reiterated the Fed's recently stated position that it can be patient when it comes to the future path of the policy as it watches the incoming data. Friday's nonfarms payrolls report indicated a gain of just 20,000, helping to ratify concerns that the first quarter will show little, if any, economic growth.
Powell said that the Fed, while likely on hold for a while, will be making its policy decisions based on the data and not on political considerations.
"We are directed to execute policy in a strictly nonpolitical way, serving all Americans, and that's what we do," he said. "We are independent in that sense."
Powell told "60 Minutes" anchor Scott Pelley that he thinks the economy is still strong, though he acknowledged that weakness around the world could start to hit the U.S.
"I would say there's no reason why this economy cannot continue to expand," he said.