Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Beyond Meat has blown up. The plant-based meat company is now larger than 80 S&P 500 companies, including Macy's, Xerox and Mylan.Trading Nationread more
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
Employees spoke out on issues such as forced arbitration, workplace equity and Project Dragonfly at Alphabet's annual shareholder meeting.Technologyread more
American Airlines is the first major U.S. airline to order Airbus' new long-range, single aisle aircraft.Paris Air Showread more
This is a comparison of Wednesday's FOMC statement with the one issued on May 1 after the Fed's previous policy-making meeting.The Fedread more
Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook spoke to the central bank about the digital currency called LibraThe Fedread more
Federal Reserve Chairman Jerome Powell said the case for a rate cut at central bank's Wednesday meeting is not strong enough.The Fedread more
Trump claimed China was 'beaten so badly' in recent trade negotiations that Beijing wanted to wait until after the 2020 election in the hope a Democrat would win the White House and offer them a better deal.
Trump, however, said he would prevail in the upcoming election and warned that a trade deal would be 'much worse' for China if it was negotiated during his second term.
Chinese and U.S. negotiators held trade talks in Washington on Friday after Trump more than doubled tariffs on $200 billion of Chinese goods, raising the rate from 10% to 25%. The administration is also moving to impose 25% tariffs on an additional $300 billion of Chinese goods.
Trump said Friday's talks were constructive and negotiations will continue while tariffs remain in place, though they could be lifted depending on how the situation progresses.
Treasury Secretary Steve Mnunchin told CNBC no further trade talks are planned between the two sides "as of now." Chinese state media has reported that the next round of talks is expected to take place in Beijing.
Trump abruptly announced the tariff hike last Sunday, shattering hopes that a trade deal was near and sending U.S. markets into turmoil for much of the week. The president cited slow progress in negotiations as the reason for his decision.
Chinese negotiators had reportedly backtracked on key aspects of the trade deal, removing commitments to change domestic laws to address U.S. concerns about intellectual property theft and forced technology transfers among a number of other issues.