These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Stocks in Asia traded lower on Monday morning, as investors await the start of a Nasdaq-style technology board on the Shanghai Stock Exchange.Asia Marketsread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
Gluskin Sheff's David Rosenberg is painting a painful picture for stocks as earnings season goes into full gear.Futures Nowread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
One of President Donald Trump's possible picks for the open seats on the Federal Reserve Board said in an interview that, if appointed, she would want to see interest rates all the way down to 0% in one to two years.
Judy Shelton said she "would lower rates as fast, as efficiently, as expeditiously as possible," according to a report from The Washington Post on Wednesday.
Shelton, who was an economic advisor to Trump during his 2016 campaign, told the Post that she had spoken with the White House about a role on the Fed's board. Trump is currently looking to fill two vacant seats.
She would be fulfilling a call that Trump has made for over a year. The president has lambasted Chairman Jerome Powell multiple times for raising rates when Trump thought he should have cut. Despite Trump's accusations that the Fed has "gone crazy" in its monetary policy decisions, Powell has repeatedly said that the central bank's decisions are not influenced by any political pressure.
Trump has also reportedly considered removing Powell as leader of the Fed, a move which is likely not legally possible. Cowen said in a note to investors earlier Wednesday that Fed Governor Lael Brainard is "the only governor that is clearly more dovish than Powell" if Trump were to try more ways to remove Powell.
"Elevating Brainard would be the only option as we don't see any of the other governors as more inclined than Powell to cut interest rates," Cowen said.
However, Cowen cautioned that – although Trump may still try to remove Powell – "we are with the consensus that the President is unlikely to try to demote Federal Reserve Chairman Jerome Powell given the uncertainty on whether such an action is legal."
Read the full report by The Washington Post here.