While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
While Hong Kong leader Carrie Lam painted a bleak picture of the city's economy, she expressed hope that dialogue with protesters could provide "a way out."China Politicsread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
U.S. President Donald Trump and his former White House communications director Anthony Scaramucci have had a public falling out recently.Politicsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia were mixed on Tuesday, as the People's Bank of China published its new loan prime rates which would result in cheaper borrowing costs for companies.Asia Marketsread more
St. Louis Federal Reserve President James Bullard said Friday the central bank's monetary policy now is "a little tight" and may have to be reconsidered.
Speaking at a time when the White House is pushing the Fed to lower rates, Bullard would not commit to that course, but did note the low level of inflation and expectations in financial markets that it will stay that way.
"I think we're a little tight on the funds rate, not too much but a little bit tight," he told CNBC's Steve Liesman during "Squawk on the Street " interview. "I think the global safe real rate in the short term is about zero."
If the real rate measured against inflation is zero and inflation runs around 2%, then that also should put the Fed's benchmark at 2%, he said. The federal funds rate currently is targeted in a range between 2.25% and 2.5%.
"I would like to take this opportunity to recenter inflation expectations at 2%. I think that would pay handsome dividends for the Fed going forward," Bullard said. "We've made some big moves in monetary policy over the last three or four months. I think it's time to wait and see how that's going to impact the economy going forward."
Indeed, the Fed made a policy pivot in January when it said it will be "patient" about implementing changes to monetary policy. The central bank advanced that position in March when it changed its rate forecast from two anticipated hikes this year to none.
Still, President Donald Trump has pressured Fed officials to change course and cut rates. He said earlier this week that he would like to see a full percentage point reduction.
"We get advice from all kinds of people, including you and including other politicians," Bullard told Liesman. "We get a lot of input from a lot of different angles."