Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
The Federal Reserve has "no choice" but to cut interest rates again at its September policy meeting, economist Mohamed El-Erian told CNBC on Wednesday.
If the Fed doesn't cut its benchmark federal funds rate, it risks further disrupting the stock market, Allianz's chief economic advisor said in an interview on "Closing Bell. "
Central bankers are being "held hostage" by markets, El-Erian continued. "The market is going to push the Fed to do 50 basis points. Some are saying, 'Why not even do an emergency cut?'"
El-Erian spoke after the Dow Jones Industrial Average closed down 800 points on Wednesday. It was its worst performance of 2019. The spread between the U.S. 10-year note and 2-year note inverted, a signal investors take as a recession indicator.
President Donald Trump on Wednesday once again blamed the Fed for mounting fears about a slowing U.S. economy. The president has blamed the central bank for previous declines in the stock market and has repeatedly pushed Fed Chairman Jerome Powell to cut rates.
The fed funds futures market now points to a 100% probability that there will be another Fed cut in September, according to the CME FedWatch Tool. Last month, the Fed, as expected, cut rates for the first time in more than a decade.
But El-Erian, former CEO and co-CIO of Pimco, said the rate cuts come with a price. "The more it cuts, the less impact it has on the economy, the less impact it has on markets and the greater the risk they have no ammunition when they will really need to cut."
El-Erian has been more bullish on the U.S. economy than some other major analysts, telling CNBC in March that the country will not see a recession this year or in 2020 barring a major policy mistake from the Fed.