Stocks slipped on Tuesday as investors digested a sharp rebound from a strong sell-off last week.US Marketsread more
For investors still haunted by last week's monster sell-off, the market's comeback is set to last, according to J.P. Morgan's quant guru.Marketsread more
The FDIC on Tuesday voted to approve a five-agency revision of the post-crisis regulation known as the Volcker Rule.Financeread more
The launch follows a "preview" earlier this month that allowed only limited customers to apply.Technologyread more
A U.S.-China trade deal would be less likely if President Xi cracks down violently on the large-scale protests in Hong Kong, Secretary of State Mike Pompeo tells CNBC.Politicsread more
The report was conducted by Senator Jon Kyl, R-AZ, and a team of lawyers who interviewed conservatives who use ans study Facebook.Technologyread more
Home Depot's CEO says the retailer cut its outlook partly due to "the potential impacts to the U.S. consumer arising from recently announced tariffs."Retailread more
Energy stocks may be fueling up for a comeback rally. One technical analyst says that after the sector's pummeling, these two stocks look particularly good.Trading Nationread more
U.S. interest rates will keep falling and follow global interest rates all the way down to zero, hedge fund manager Kyle Bass said.Marketsread more
Financial advisers are always "buying at the wrong time and selling at the wrong time because they're emotional," the billionaire founder of Baron Capital says.Marketsread more
"We think the stock is appealing once again," J.P. Morgan says of Beyond Meat.Marketsread more
Treasury Secretary Steven Mnuchin told CNBC on Wednesday that he doesn't believe Federal Reserve Chairman Jerome Powell is the wrong person to lead the central bank despite criticism from President Donald Trump.
"I don't feel like I picked the wrong person, but I respect the president's views and his views of the economy, where he's had tremendous insight," Mnuchin said.
Trump has voiced frustration with Mnuchin over his recommendation to nominate Powell for the Fed's top job as the central bank hiked interest rates throughout 2018.
The president has said that he's "not even a little bit happy with" Powell and thinks the Fed is "way-off base" with its monetary policy. As recently as December, Trump discussed firing Powell because of widespread losses in the stock market in the last three months of 2018.
Trump said last week that the U.S. economy would take off like "a rocket ship" if the Fed lowered borrowing costs and ended its tightening policy.
"I think they should drop rates and get rid of quantitative tightening," Trump told reporters Friday, referring to the Fed's policy of selling securities to unwind its balance sheet. "You would see a rocket ship. Despite that we're doing very well."
In one meeting, Trump reportedly recalled a phone conversation he had with Powell in March. A person who attended that meeting told The Wall Street Journal that the president said he told Powell, "I guess I'm stuck with you."
Mnuchin also discussed Trump's plans to nominate former GOP presidential candidate Herman Cain and former campaign advisor Stephen Moore to the Fed's Board of Governors. Asked whether he is worried about the Fed's independence with the prospect of two outspoken Trump allies on the board, Mnuchin said he's unfazed.
"I don't think there's any reason whatsoever to be concerned about the independence of the Fed," Mnuchin told "The Exchange " later in the interview. "These are two people the president has confidence in ... and they will go through the normal Senate confirmation process."
Asked specifically about whether Cain should be added to the Fed's board, Mnuchin said: "I'm not going to make individual comments on individual people. I know Stephen Moore well, I don't know Cain very well."
"But I have every reason to believe the president supports him and feels strong," Mnuchin said. "So yes, I think he should be confirmed."