Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
(Adds comment by IMF official)
WASHINGTON, June 6 (Reuters) - The International Monetary Fund on Thursday warned the United States that escalating trade disputes or an abrupt downturn in financial markets could pose substantial risks for the U.S. economy.
The international lender, in a review of U.S. policies, said the U.S. economy was on track to grow 2.6% this year. That was quicker than the IMF's 2.3% growth forecast from April and was boosted by easy financial market conditions.
But the U.S. financial system appears increasingly vulnerable and financial conditions could tighten as investors worry more about America's trade disputes, IMF officials said.
"That is the risk we are most concerned about for the U.S. economy," Nigel Chalk, the IMF's mission chief for the United States, said at a news conference.
In its report, the IMF criticized the Trump administration's efforts to overhaul global trade relationships by raising tariffs and said it was especially important to resolve a trade dispute with China. That dispute poses a threat to the global economy, the IMF said.
Trump has hiked tariffs on billions of dollars in Chinese imports and last week threatened to raise tariffs on all Mexican imports if Mexico doesn't crack down on illegal immigration into the United States.
"Rising import tariffs and other steps taken by the administration are undermining the global trading system," the report said.
The IMF also said U.S. financial regulators haven't done enough to counter rising vulnerabilities in the financial system such as historically high corporate leverage and weakening underwriting standards. This could make a financial downturn hit the U.S. economy harder, the IMF said.
The Standard & Poor's 500 index of U.S. equity prices hit a record high in April but has fallen about 4% in the last month as investors worried that trade wars and a sagging global economy might depress the U.S. growth outlook.
"An abrupt reversal of this accommodative environment, interacting with leveraged corporate balance sheets, could create a significant downdraft to activity, investment, and job creation," the IMF said.
It criticized U.S. regulators for offering "little institutional response to counter these growing risks" and for instead easing regulatory constraints. (Reporting by Jason Lange; Editing by Andrea Ricci)