U.S. tariffs could raise steel prices by 30 percent and may prompt Deere & Co to switch materials, but the company will absorb the costs, said its CEO Samuel Allen. » Read More
By: Jeff Cox
Federal Reserve Chairman Jerome Powell will give his first press conference Wednesday after taking the top position at the central bank in February. » Read More
But the U.S. central bank raised its 2019 projection, saying it sees the benchmark rate at 2.9 percent.
"A number of participants in the [Federal Open Market Committee] did bring up the issue of tariffs," Federal Reserve Chairman Jerome Powell said at a news conference.
As Fed Chairman Jerome Powell gets set to deliver his first news conference Wednesday, he has a good example of what not to do from the fairly recent past.
U.S. home sales surged in February but a chronic shortage of houses on the market remains an obstacle heading into the spring selling season.
There are an increasing number of signs and signals that the economy is entering the very late stages of economic recovery.
The U.S. will consider re-entry to the trade deal once Washington accomplishes its other trade goals, Mnuchin said.
U.S. subsidies for its soybean farmers have given them an unfair competitive advantage in selling to China and strong restrictive measures need to be taken to prevent dumping, Chinese tabloid Global Times said on Wednesday.
For the first time this year, mortgage rates dropped, but not enough to spur refinances — which took a sharp dive.
The surge in wealth from stocks and other financial assets is sending a potential danger signal for the economy.
African leaders are poised to approve the African Continental Free Trade Area, a deal that will unite over 50 countries in tariff-free trade.
While nearly 92 percent of customers have had power restored, more than 121,000 residents still go without.
The S&P is now seen ending the year at 2,839, about 5 percent higher than the current level, but down from the January forecast of 2,937.
Protectionism worries in the CNBC Fed Survey far outpace concerns over inflation, terrorism and even the Fed itself.
The Fed is expected to upgrade its view of the economy when it meets this week, but it's unlikely to publicly discuss one of the bigger risks for the economy.
President Emmerson Mnangagwa said that less than half of the country's estimated $1.42 billion believed to be illegally stashed abroad has been brought back onshore.
Could Fed Chair Jay Powell's optimism about the U.S. economy lead to more hikes than markets are prepared for?
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