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
"It may have held up his being willing to cut rates. It may have been counterproductive. So I don't think he did it because of the pressure," Gerald O'Driscoll, former vice president of the Federal Reserve Bank of Dallas, said on "Closing Bell. "
Recent statements from the Fed have strongly hinted that a rate cut is coming at the end of the month, and investors read Powell's congressional testimony this week as confirmation. The Dow Jones Industrial Average achieved a record close Thursday following Powell's appearance on Capitol Hill.
Trump has repeatedly criticized the Fed's policy choices, both in interviews and on Twitter, calling for lower interest rates. The Fed has held rates steady so far this year after several hikes in 2018.
The president has reportedly considered demoting or firing Powell from his position. Larry Kudlow, the top White House economic advisor, said Tuesday that Powell's job was safe "at the present time. "
Powell reiterated during his congressional testimony this week that he intends to serve his full term and said he would not resign if Trump asked.
Trump has also spoken with Powell on the phone several times this year. The topic of conversations in those calls has not been made public.
Randy Kroszner, a former governor of the Federal Reserve, said on the same "Closing Bell" segment that serving as part of the Federal Reserve often comes with a lot of public pressure, even under different presidents.
"I was there during the financial crisis, from 2006 to 2009. That was a pretty tough time to be there too," Krozner said. "The Fed is sort of always in the crosshairs. The criticism has been much more explicit, but during the financial crisis there was a lot of pretty explicit criticism of the Fed, so it's always tough to be there."
The Federal Reserve Board declined to comment on O'Driscoll's statements.