Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Federal Reserve Chairman Jerome Powell said the he does not see the Fed using negative interest rates in the future.The Fedread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
The Dow Jones Industrial Average erased a 211-point drop as investors digested the latest monetary policy announcement by the Federal Reserve.US Marketsread more
A New York-based blockchain consulting firm allegedly extorted a Seattle-based crypto start-up with threats to hijack its initial coin offering, in a case announced Wednesday...Technologyread more
According to a report in the Wall Street Journal, WeWork co-founder Adam Neumann has floated the idea of becoming Israel's prime minister or leader of the world.Technologyread more
Powell said on Wednesday that the Fed may have to resume regular balance sheet growth to help ease money markets.The Fedread more
The interest on excess reserves now stands at 1.8%, a 30 basis point cut compared with the 25 basis point reduction for the benchmark funds rate.The Fedread more
Amazon is launching a new feature that allows presidential candidates to receive campaign contributions through the Alexa voice assistant.Technologyread more
The woman says the abuse by Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, began when she was just age 14 or younger.Politicsread more
"It's going to get worse before it gets better," said Curtis Chin, an Asia fellow at the Milken Institute, a think tank.
Talks to end the ongoing trade dispute are believed to have hit a roadblock, and relations between the two economic superpowers deteriorated earlier this month when U.S. President Donald Trump announced that he would increase tariffs on $200 billion in goods from 10% to 25%. China responded by upping the tariffs on $60 billion of U.S. goods.
However, tensions between China and the U.S. — as well as other parts of the world — did not develop just recently and will take time to work through, Chin told CNBC's "Squawk Box."
"It's really reflecting an adjustment of China's rise and how China behaves when it's no longer that poor nation of 20, 30 years ago, when maybe some of the things it was doing were more accepted of a developing nation," said Chin, who served formerly as U.S. ambassador to the Asian Development Bank.
As one of the world's largest economies now, "some of the things we might have accepted from a poorer nation maybe no longer fit the bill in terms of where China should fit into this region," he said.
While many on both sides are likely looking for a face-saving solution to the trade war, there are longstanding concerns that not just the U.S. but many other countries and companies have had about China's actions over the years, he said.
"If we look at China's behavior, it does so many things to lift up their people, but it is also known as a vindictive nation, (it does) so many things to countries and companies they don't necessarily like," said Chin.
On Monday, China's Tencent Video delayed the broadcast of the "Game of Thrones" finale, according to an official message published by the online streaming site on Monday, prompting uproar among fans of the popular American TV series in the country, spurring speculation that the delay was due to political tensions.
"It shows you that China is ramping up its nationalism as it tries to think through how to deal with this U.S.-China back and forth right now," said Chin.
"Perhaps one more signal they are sending is stopping one of the biggest U.S. exports, (which) clearly is film and television," he added.
Tencent did not immediately respond to a CNBC request for comment.
Chinese President "Xi Jinping needs to show he is in charge, that there's stability in that nation as he continues to struggle to revive that better life for all Chinese," Chin added.
- CNBC's Holly Ellyatt and Reuters contributed to this story.