Ten 2020 Democratic presidential candidates will take the debate stage Wednesday at the Adrienne Arsht Center for the Performing Arts in Miami.2020 Electionsread more
Something unusual is happening in financial markets, and it could mean more gains lie ahead for stocks, if history is any indication.Marketsread more
Underneath the impressive market rally is a trend that doesn't seem quite right, according to J.P. Morgan.Marketsread more
Virginia Sen. Mark Warner breaks down the idea behind a bipartisan bill he introduced to provide more transparency in Big Tech.Technologyread more
Venezuelan President Nicolas Maduro said security forces had foiled an opposition coup attempt that included plans to assassinate him and other top political figures.World Politicsread more
Credit Suisse initiated coverage of Tesla Wednesday with an "underperform" rating and a price target 15% below where the stock closed.Marketsread more
Tesla is working on new battery cell designs, and a way to make their own cells, with R&D teams in a lab near its car plant in Fremont, California.Technologyread more
These attacks have given the public the opportunity to examine the problems associated with ransomware, where corporations -- not obligated to disclose these attacks -- have...Technologyread more
Online home goods retailer Wayfair sold roughly 1,600 mattresses and 100 bunk beds to Baptist Child and Family Services, a nonprofit that works as a federal contractor...Retailread more
"As a private company we don't have the tools to make the Russian government stop," Facebook CEO Mark Zuckerberg said at the Aspen Ideas Conference on Wednesday. "We can...Technologyread more
Wi-Fi 6 will be the next-generation wireless standard. Along with 5G, it will represent the next big shift in connectivity and data, said Irving Tan, senior vice president and...Shaping the futureread more
New York Federal Reserve President John Williams called on Thursday for central banks to change their strategy to combat low inflation, which he labeled "a symptom of deeper problems affecting advanced economies."
"In the pre-2008 era, inflation was a major concern for the public and central banks alike," the leader of the Fed's key district said in prepared remarks for a speech at the Council on Foreign Relations in New York. "And, while I will always be vigilant about inflation that's too high, inflation that's too low is now a more pressing problem."
The comments come amid rampant speculation about the Fed's next move, but Williams did not address monetary policy in specifics. He did say that "low neutral rates" or the level that neither promotes nor restricts growth "are very real, and they're here to stay."
The Fed considers 2% a healthy level of inflation, but it has been unable to consistently meet that goal throughout an economic recovery that is nearing the longest on record. Markets lately have been betting that the Fed will begin cutting rates later this year, as many as three times, in part because inflation has remained so low.
Williams attributed the issue to two factors: longer life spans and slower population gains that hold back productivity and thus keep the U.S and other developed economies in a low-growth pattern.
With those factors likely to persist, he called on the Fed and its global counterparts to change their approach to monetary policy.
"Persistently low inflation creates a vicious circle, where expectations of low inflation drag down current inflation. If inflation falls, central banks will have even less room to maneuver when faced with a slowdown," Williams said. "Starting with monetary policy, central banks should reassess their strategies, goals, and the tools they use to achieve them."
He suggested encouraging investment across a broad spectrum and removing barriers to labor force and economic participation.