The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
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 summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread 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
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
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread 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
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
(Adds remarks on interest rates)
BROWNSVILLE, Texas, May 13 (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan on Monday said that the Fed should neither be cutting nor raising interest rates but should "move off to the side and be patient."
"We'll have to see where we go from here, and I'll keep updating my judgment based on what we see in the economy," Kaplan said at the University of Texas Rio Grande Valley. Interest rates, he said, "are about where they should be."
Kaplan's comments came after China's announcement of retaliatory tariffs on U.S. goods fueled fears of a full-blown trade war between the two biggest world economies. U.S. stocks tumbled, and interest-rate futures traders piled into bets the Fed will cut rates before the end of this year.
Kaplan did not address the market gyrations or the latest trade tension headlines in his talk. He instead reiterated his view that globalization and trade boost rather than hurt the U.S. economy, and said he is hopeful that the United States and China can resolve current tensions.
"Trade is very critical," Kaplan said, adding that tariffs on traded goods throw "sand in the gears" of companies that use those goods in their supply chains.
With inflation near the Fed's 2 percent target and unemployment at 3.6 percent, he said, and with interest rates now "in the neighborhood of neutral," the Fed does not need now to make any adjustments to rates. The Fed currently targets interest rates at between 2.25 percent and 2.5 percent.
Kaplan does not have a vote this year on monetary policy but takes part in the Fed's regular policy-setting meetings in Washington. (Reporting by Ann Saphir; Editing by Steve Orlofsky)