It was the third trigger of the recession indicator in less than two weeks.Bondsread more
"My sense was we've added accommodation, and it wasn't required in my view," George tells CNBC's Steve Liesman.Investingread more
Stocks traded higher on hopes the Fed chief will confirm expectations of easier monetary policy at a central banking summit this week.US Marketsread more
Apple plans to unveil three new iPhones in September, including two new "Pro" models and a successor to the iPhone XR, Bloomberg reported Thursday.Technologyread more
Former Prudent Bear Fund manager David Tice is urging investors to brace for a massive downturn.Trading Nationread more
U.S. manufacturer growth slowed to the lowest in almost 10 years in August, the latest sign that the trade war may be exacerbating the economic slowdown.Marketsread more
Corporate profits posted modest growth in the second quarter as companies brace for slowing global growth.Retailread more
A Volkswagen spokesperson called the report that CEO Herbert Diess is interested in buying a stake in Tesla "completely unfounded."Technologyread more
A ruling against J&J could mean more big payouts in similar cases across the country.Health and Scienceread more
President Donald Trump made his support of a weak dollar official, saying Thursday he is disappointed in the strong currency and is blaming the Federal Reserve.
"As your President, one would think that I would be thrilled with our very strong dollar. I am not!" the president said.
The urging for a weak greenback is unusual for presidents, who generally have refrained from making statements that would influence the currency markets. Forex traders have reacted sharply to administration comments previously seen as backing a weak-dollar policy. Treasury Secretary Steven Mnuchin, for instance, in early January made comments that he said were misinterpreted that nonetheless coincided with a dollar sell-off.
But Trump spoke out strongly, saying the dollar's high value compared with its global competitors has been hurting U.S.-based multinationals including Caterpillar, Boeing and John Deere, as well as automakers.
The dollar index was little changed against a basket of its global competitors in morning trade, edging lower following the president's comments.
As he has multiple times in the past, Trump took out his disappointment on the Fed. He has repeatedly called for the central bank to cut interest rates, with a series of tweets Wednesday urging "bigger and faster" action than the quarter-point cut the Fed approved last week.
"With substantial Fed Cuts (there is no inflation) and no quantitative tightening, the dollar will make it possible for our companies to win against any competition," he said Thursday. Trump continues to reference "quantitative tightening" even though the Fed ended the program of reducing its bond holdings a week ago.
"We have the greatest companies in the world, there is nobody even close, but unfortunately the same cannot be said about our Federal Reserve," he added. "They have called it wrong at every step of the way, and we are still winning. Can you imagine what would happen if they actually called it right?"
Trump hasn't always favored a strong dollar. In 2012, before he ran for office, Trump blasted the Fed for "destroying the dollar."