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
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
Federal Reserve Chair Jerome Powell said Wednesday that he would not resign if President Donald Trump asked him to.
Asked by Democratic Rep. Maxine Waters, chair of the House Financial Services Committee, "If you get a call from the president today or tomorrow and he said 'I'm firing you. Pack up and it's time to go.' What would you do?"
"Of course I would not do that," Powell said during his testimony.
"I can't hear you," Waters replied, sparking laughter in the room.
"The answer would be 'no,'" Powell said.
"You think the president doesn't have the authority. Is that why you would not leave?" Waters asked.
"The law clearly gives me a four-year term and I fully intend to serve it," Powell replied.
Trump has repeatedly lashed out at Powell for the Fed's interest rate hikes and he has urged the central bank to slash rates, which traders are expecting later this month. The president also blamed Fed policy for undermining his aggressive trade negotiation tactics with China as well as for dampening the economic outlook.
Reports last month said the White House had explored the possibility of "legally demoting" the Fed chief after the central bank tightened monetary policy in December. Trump later said he "didn't ever threaten to demote him" but said he would "be able to do that if [he] wanted."
Powell also said in his testimony that the Fed will "act as appropriate" to sustain expansion as "crosscurrents" are weighing on the economic outlook. He noted business investments across the U.S. have slowed "notably" recently.