The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
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
Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook spoke to the central bank about the digital currency called LibraThe 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
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
Resident "Fast Money" crypto expert Brian Kelly breaks down the major differences between bitcoin and Facebook's new cryptocurrency Libra.Fast Moneyread more
Oracle found revenue growth from cloud applications in its fiscal fourth quarter, which helped it surpass analysts' expectations.Technologyread more
The vote makes Mexico the first of the three countries to win legislative approval for the trade agreement.Politicsread more
American Airlines is the first major U.S. airline to order Airbus' new long-range, single aisle aircraft.Paris Air Showread more
Hedge fund billionaire Paul Tudor Jones believes the market is underestimating the economic impact of tariffs.
"We'll really have to see the impact they are going to have and if the next round of tariffs gets implemented. It's a huge deal. I would say if they get implemented and we go to the $500 billion, I think certainly it's possible it could tip us into recession," Tudor Jones said in an interview Wednesday on Bloomberg TV.
"We haven't seen anything like this in 75 years right? ... There's no playbook for this. You got this interconnected global economy that now all of a sudden for the first time in 75 years we are seeing free trade not being expanded but being diminished ... I think it would have a bigger impact economically than what the market thinks," he added.
President Donald Trump had threatened to put duties on another $300 billion in Chinese goods if a trade agreement is not reached soon. The U.S. increased tariffs last month on $200 billion worth of goods the U.S. imports from China.
Despite this threat, the S&P 500 is up 15% so far this year and less than 3% from a record.
Tudor Jones also told Bloomberg TV that rate cuts are coming soon, and investors should bet on stocks, fixed income and gold "at least initially," while also wagering against the dollar.
"That's what you do into the first rate cut. ... All those trades are already in process. The question is how much further they are going to go into and pass the first rate cut. I think they are all going to keep going a long way," the Tudor Investment founder said.
When asked how much the Federal Reserve will cut interest rates this year, the billionaire said "so much of it" depends on how far the U.S. goes with the tariffs.
The fed funds futures market is pointing to a nearly 80% chance of a rate cut in July and about a 60% probability of three rate cuts this year, according to the CME FedWatch tool.