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 engineer named Morgan Beller.Technologyread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread 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
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
The president also said he "offered to personally vouch" for Rocky's bail. Sweden, however, does not have a bail system.Politicsread more
CoinShares Chief Strategy Officer Meltem Demirors discusses Facebook's Libra project and its impact on the cryptocurrency market after testifying to the House Financial...Fast Moneyread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
A top Morgan Stanley strategist said Tuesday that "there is no credible path at the moment" for the tariffs between China and the United States being removed despite the countries agreeing to a trade war truce over the weekend.
Speaking on CNBC's "The Exchange, " Michael Zezas, head of U.S. public policy strategy at Morgan Stanley, said there is no reason to think that the most recent pause in the trade war will end differently than previous ones.
"It's good news that both sides are back to talking, but I think what's more important is the things that we didn't learn as a consequence of the G-20," Zezas said. "We didn't learn what progress was made, if any, on the key issues that were dividing both sides ahead of the May 5 re-escalation."
The U.S. and China agreed to reopen negotiations and hold off on raising tariffs at the G-20 summit in Japan. The two countries traded increased tariffs in May, and currently China imposes tariffs to up to 25% on $60 billion of U.S. goods, while the Trump administration levies tariffs of 25% on $250 billion of Chinese products. Before the summit, President Donald Trump had been threatening to expand the tariffs to an additional $300 billion of goods.
Trump said Monday that talks with China about the tariffs have already begun. The U.S. also this week proposed tariffs on an additional $4 billion of European goods this week.
Zezas also said he believes that the markets have not priced in the impact of the existing tariffs.
"We are already at a point where S&P 500 earnings are in a recession," he said. "We think this can further weigh on it because now that you don't have the existing tariffs rolling off any time soon, there have to be investments made in supply chain management and other types of cap-ex to deal with that."
Zezas added that he expects GDP growth in 2020 to be 1.7% and also anticipates a rate cut from the Federal Reserve in July. His GDP forecast is in line with the Congressional Budget Office's projection of 1.7% for 2020 and below the Trump administration's forecast of roughly 3%.