There is a greater chance of the Federal Reserve making a mistake these days, noted economist Mohamed El-Erian told CNBC on Tuesday. “There’s no doubt in my mind we are more vulnerable,” to a “policy mistake” by the Federal Reserve and a “market accident,” the chief economic advisor at Allianz said on “Closing Bell.” “That’s...
The Federal Reserve will likely ease up on its plans for multiple interest rate hikes next year, Wharton School finance professor Jeremy Siegel told CNBC on Tuesday. In addition to an anticipated rate rise in December, the central bank has indicated it plans three more in 2019. “The market is clearly worried about over-tightening of...
Check out the companies making headlines after the bell: Shares of Autodesk rose over 9 percent during the extended session Tuesday. The software design company reported earnings of 29 cents a share, slightly above analysts’ expectations of 27 cents a share. Autodesk reported $661 million in revenue, versus an estimate of $640 million. Foot Locker...
President Donald Trump once again took a shot at the Federal Reserve on Tuesday, saying he would like to see lower rates from the U.S. central bank in answering a question on the state of the economy and financial markets. “I’d like to see the Fed with a lower interest rate. I think the rate’s...
President Donald Trump on Tuesday linked his decision to continue backing Saudi Arabia — despite the murder of a U.S. resident by Saudi agents — to his desire to keep oil prices low. “Saudi Arabia, if we broke with them, I think your oil prices would go through the roof,” Trump told reporters on Tuesday....
U.S. homebuilding rose in October amid a rebound in multifamily housing projects, but construction of single-family homes fell for a second straight month, suggesting the housing market remained mired in weakness as mortgage rates march higher. Other details of the report published by the Commerce Department on Tuesday were also soft. Building permits declined last...
President Donald Trump’s attacks on Federal Reserve Chairman Jerome Powell aren’t popular with one important polling group within the markets: chief financial officers. Four in five North American members of CNBC’s Global CFO Council support Federal Reserve Chair Jerome Powell’s handling of the economy versus only a third who approve of Trump‘s handling of the...
The Federal Reserve is still expected to raise interest rates again next month and three times next year, but a strong majority of economists polled by Reuters over the past week say the risk is it will slow that pace down. The probability of a U.S. recession in the next two years, while still low,...
BEIJING – Beijing’s municipal government will assign citizens and firms “personal trustworthiness points” by 2021, state media reported on Tuesday (Nov 20), pioneering China’s controversial plan for a “social credit” system to monitor citizens and businesses. The system’s rollout has attracted international headlines, sparking comparisons to George Orwell’s novel “Nineteen Eighty-Four”, with critics saying it...
BEIJING – A major Asia-Pacific summit’s failure to agree on a communique resulted from certain countries “excusing” protectionism, a top Chinese diplomat said, in a veiled criticism of Washington that further sours the tone of China-US ties ahead of a G-20 meet. After months of bickering over a damaging trade war, the disputed South China...