Fed minutes say "most participants" saw the cut "as part of a recalibration" in response to changing conditions.The Fedread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
The president's remark followed a string of criticisms aimed at his predecessors, whom he claimed had ignored China's alleged malpractice on trade.Politicsread more
President Trump liked Germany's sale of no-interest, 30-year bonds Wednesday, but investors weren't so eager to buy them.Market Insiderread more
SunTrust Robinson Humphrey analysts said in a research note the "Off-Facebook Activity" feature "appears to fall somewhat short of the original pledge by CEO Zuckerberg of...Technologyread more
"If you look at the market over the past week, stocks don't need any help. They are roaring ahead, without the Fed doing anything," says the longtime market strategist.Marketsread more
Target CEO Brian Cornell still thinks the U.S. consumer is strong and spending. Target's latest quarterly results showed the big-box retailer is benefiting from that.Retailread more
Stocks rose on Wednesday as strong quarterly results from retailers such as Target and Lowe's lifted investor sentiment.US Marketsread more
President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
May 6 (Reuters) - Warren Buffett said on Monday that a trade war between the United States and China would be "bad for the whole world."
Buffett spoke after U.S. President Donald Trump tweeted on Sunday that he will raise tariffs on $200 billion of Chinese imports to 25 percent from 10 percent beginning on Friday, and "shortly" slap a 25 percent tariff on $325 billion of Chinese goods that have not been taxed.
Major stock markets fell worldwide on Monday in response to the president's tweet, which was a "rational" response, Buffett said on CNBC television.
His conglomerate Berkshire Hathaway Inc owns or invests in many companies that do business in China, including Apple Inc in which it has a more than $50 billion stake.
"If we actually have a trade war it will be bad for the whole world," Buffett said. "With some people in negotiations, the best technique is to act half-crazy."
A full-scale trade war "would be bad for everything Berkshire owns," Buffett added, though the probability it might happen is low.
Buffett said tough talk ahead of negotiations was understandable, but that it was ineffective to "shake your fist first and then shake your finger later on." He added that Trump's threat raises the stakes for Chinese leader Xi Jinping.
"You're talking about two personalities who are very much used to getting their way in politics, and talking about how they will be perceived in their own country in terms of their behavior," he said. "It gets very complicated."
Buffett said the trade dispute has already had an effect on Berkshire's BNSF railroad.
Last week, Jim Weber, the chief executive officer of Berkshire's Brooks Running unit, said in an interview that his company was ending most of its shoe production in China and moving it to Vietnam because of tariff concerns.
Buffett nonetheless said the problems will not affect how Omaha, Nebraska-based Berkshire operates. "We will buy the same stocks today that we were buying last week," he said.
Berkshire ended March with $191.8 billion of equity investments. It also owns more than 90 companies including energy and utility companies, the Geico auto insurer and the Dairy Queen ice cream chain. (Reporting by Jonathan Stempel and Jennifer Ablan in New York; Editing by Jeffrey Benkoe)