"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
On Sunday, the 71st Primetime Emmy Awards will honor the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
Gluskin Sheff's David Rosenberg reinforces his recession forecast following the Federal Reserve's September meeting.Futures Nowread more
"This would be the most profound violation of the presidential oath of office certainly during this presidency," House Intelligence Chair Adam Schiff said.Politicsread more
That anger is emerging as a hot-button issue in the 2020 presidential race as the many Democratic candidates looking to prevent President Donald Trump from winning a second term call for the rich to pay more in taxes.
The Fed holding "rates at zero for such an extended period probably did contribute to some understandable resentment," the Pennsylvania senator said in a "Squawk Box" interview.
The average person with modest savings "earned zero" in bank accounts, while people with "financial assets, people who had accumulated some wealth, saw their wealth increase in value" in the stock market, said Toomey.
"That wasn't very fair," he argued. "By the way, it didn't give us booming economic growth."
The economy under Obama saw a slow but steady growth rate as the nation emerged from the 2008 financial crisis. Fed rates were so low at the time in an attempt to boost growth and asset prices.
Under Trump, the economy was on fire in 2018. But this year, growth appears to be slowing and perhaps reverting to an Obama-era type trend.
Toomey, however, argued that "our policies are much better now," pointing to the 2017 Trump tax cuts for individuals and corporations and the removal of restrictive business regulations.
Meanwhile, ever since Trump started railing against Fed Chairman Jerome Powell for raising rates too aggressively and putting a drag on the economy, Toomey has defended Powell and said he should remain on the job.
Toomey — an advocate for an independent Fed and a member of the Senate Banking Committee — will question Powell on Thursday when he goes before the panel.
In prepared testimony released ahead of Wednesday's House Financial Services Committee appearance, Powell set the stage for a rate cut.
Fed rates have been steadily rising since 2015 to a target fed funds overnight lending rate of 2.25% to 2.50%. Central bankers hiked rates four times last year alone, with the latest increase in December when financial markets were tanking.
Many investors and traders say the December hike was one too many, and the market is putting 100% odds on a rate reduction at the July 30-31 Fed meeting.