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John Paul Stevens, who served on the Supreme Court for nearly 35 years and became its leading liberal, has died.Politicsread more
Aarti Borkar from IBM Security says artificial intelligence bias can exist at three levels: the program, the data and the people who design those AI systems.Cybersecurityread more
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The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
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U.S. President Donald Trump said Tuesday that Washington and Beijing have a long way to go on trade, adding that America could place tariffs on an additional $325 billion...Asia Marketsread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
President Donald Trump's top economic advisor Larry Kudlow on Friday said he believes the "underlying" U.S. economy "looks very good."
"I don't think the underlying economy is slowing," Kudlow said on CNBC's "Power Lunch."
"The fundamental economy," a phrase he used to mean "consumption and business investment … looks very good," Kudlow said.
Kudlow, the director of Trump's National Economic Council, made the remarks on CNBC shortly after saying in an Axios interview that he wants the Federal Reserve to "immediately" cut U.S. interest rates by half a percentage point.
"I am echoing the president's view – he not been bashful about that view – he would also like the Fed to cease shrinking its balance sheet. And I concur with that view," Kudlow said when asked by CNBC Friday.
The central bank announced last week that it would hold off on raising interest rates, and hinted that another rate hike might not be necessary for the rest of the year.
Though Fed Chairman Jerome Powell highlighted slowdowns in overseas economic growth, the Fed did not indicate at its March meeting that rate cuts would be necessary.
The critiques from the Trump White House break with the precedent set by past presidents, who have generally allowed the Fed to act independently.
Kudlow said Friday that he respected the Fed's independence — but noted that "we don't want to threaten this great recovery."