American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
President Donald Trump, in his most brazen attack yet on the Federal Reserve, called for the central bank on Tuesday to cut interest rates by 1 percentage point and to implement more money-printing quantitative easing.
In a two-part tweet, the president unfavorably compared the Fed to its China counterpart and said if monetary policy in the U.S. was looser, the economy would "go up like a rocket."
In the past, White House officials including Trump and top economic advisor Larry Kudlow have recommended the Fed cut rates by half a point. The tweets literally doubled down on that approach.
The Fed currently targets its benchmark interest rate in a range between 2.25% and 2.5%. It has hiked the rate nine times since December 2015, though it indicated in March that it likely is done with increases for the rest of 2019 despite forecasting two more at the end of last year.
Following the president's prescription would take the fed funds rate back to its December 2017 level.
The jawboning for rate cuts comes despite another strong economic performance in the first quarter. GDP rose at a robust 3.2% after many economists had been predicting little or no growth ahead of the release.
Growth has come with little inflation. The Fed's preferred gauge showed a gain of just 1.6% over the past year excluding food and energy prices.
That lack of inflation is the reason Kudlow and others believe the Fed can cut rates without risk. Central banks normally tighten policy in an effort to control prices when the economy is expanding.
While it is not unusual for presidents to criticize monetary policy, it historically has been done quietly, making Trump's public condemnations of Chairman Jerome Powell and his colleagues atypical.
Along with multiple calls for rate cuts, this is Trump's second demand for more QE.
The Fed instituted three rounds of easing during and after the financial crisis in an effort to lower long-term rates and encourage the flow of money into risk assets like stocks and corporate bonds. There have been no indications the Fed is contemplating another round of QE, though economists at the St. Louis Fed have been floating the idea of a repurchase facility that some economists say would act as a form of easing.