The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.Market Insiderread more
Pelosi said Trump should not have tried to address China's trade practices in a way that opened Americans up to financial pain.Politicsread more
The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
In the survey, conducted after the third in the Democratic Party's series of debate, the former vice president draws 31% compared to 25% for the Massachusetts senator. At 14%,...2020 Electionsread more
Stocks rose slightly on Tuesday, but gains were capped as the Federal Reserve kicked off a two-day monetary policy meeting.US Marketsread more
The U.S. Air Force's top general says he hasn't received direction to send additional bombers to the Middle East after what is believed to be Iranian attacks on Saudi Arabian...Defenseread more
Facebook has partnered with Ray-Ban maker Luxottica to develop augmented-reality glasses code-named 'Orion', people familiar with the matter told CNBC.Technologyread more
"I believe the path to 'health care for all' is a path following the lead of the Affordable Care Act," House Speaker Nancy Pelosi tells Jim Cramer.Health and Scienceread more
The pet food and product retailer posted net sales of $1.15 billion, topping estimates of $1.13 billion, according to a survey of analysts by Refinitiv.Retailread more
E-cigarette maker Juul Labs Inc.'s sales have been halted on two websites in China, just days after it launched in the world's biggest tobacco market.Biotech and Pharmaceuticalsread more
The Fed chairman's public calendar showed the pair spoke for five minutes on May 20, amid Trump's heightened criticism of the central bank's interest rate and monetary policy. The call represents the fourth publicly disclosed conversation between the two this year, with May's telephone call following similar conversations in April and March as well as a dinner meeting in February.
CNBC was unable to immediately determine the content of those conversations.
The meeting and conversations came as the president attacked both Powell and the Fed as an institution for what he views as restrictive interest rates, which he argues undermines U.S. trade deliberations and dampen GDP growth. The administration's frustration at rising interest rates had grown so severe that the White House had reportedly explored the possibility of "legally demoting" the Fed chief.
Briefly addressing those criticisms, Powell said at the Fed's most recent news conference in mid-June that he doesn't plan on leaving the central bank anytime soon.
"I think the law is clear that I have a four-year term, and I fully intend to serve it," Powell said at a news conference in Washington.
Asked later at the event when it might be appropriate to publicly address Trump's criticism, Powell said he doesn't "discuss elected officials publicly or privately." The Wall Street Journal first reported on the May telephone conversation between Powell and Trump.