White House economic advisor Larry Kudlow said recent conversations with China “went very well.” “The phone call the night before last with Secretary Mnuchin and Lighthizer and Vice Premier Liu He went very well. That’s important,” Kudlow said Friday on CNBC’s Squawk on the Street. “The phone lines have been open during this period and
Investing
CNBC’s Jim Cramer said Friday that Federal Reserve Chairman Jerome Powell should admit he was wrong to increase interest rates so aggressively last year, as the U.S.-China trade dispute was escalating, economic growth was starting to cool and the stock market was tanking. Powell should acknowledge the mistake and change course, Cramer said. “Why can’t
Federal Reserve Chairman Jerome Powell said Friday that the ongoing trade war between China and the U.S. is weighing down companies’ investment decisions. “I think it is the case that uncertainty around trade policy is causing some companies to hold back now on investment,” Powell said in Switzerland. ”We’ve been hearing quite a bit about uncertainty. So
Constellation Brands product line. Adam Jeffery | CNBC Beer and wine producer Constellation Brands is seeing an uptick in the millennial generation’s consumption of alcohol and, according to a company executive, that’s in part thanks to one specific reason. “When you said the millennials are drinking more, I’m like: That’s because they have kids,” Barclays
David Solomon, chief executive officer of Goldman Sachs & Co., listens during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, April 29, 2019. Kyle Grillot | Bloomberg | Getty Images David Solomon is cleaning house atop Goldman Sachs. At least a dozen partners are in negotiations to leave the firm in
In this photo illustration, a visual representation of a cryptocurrency sits on display in front of a Facebook logo. Chesnot | Getty Images When it comes to the development and regulation of cryptocurrencies, many in Washington have been producing more heat than light. By all accounts, the crypto industry and its dozens of digital asset
Sam Zell, who amassed a nearly $6 billion fortune with roots in commercial real estate, is slamming WeWork, the office-sharing firm that’s widely expected to go public as early as this month. WeWork, which rebranded itself as the We Company, is not doing anything new, Zell told CNBC on Wednesday. “I had the privilege of
President Donald Trump answers questions in the Oval Office of the White House in Washington, August 20, 2019. Kevin Lamarque | Reuters Citi no longer sees a conclusion to the trade war with China before the next U.S. presidential election, the investment bank said in a research report on Wednesday. “[The] base case for the
Traders work under monitors displaying 3M Co. signage on the floor of the New York Stock Exchange (NYSE) in New York. Michael Nagle | Bloomberg | Getty Images In a world of falling and even negative interest rates, investors are searching high and low for yield. Companies with a high and stable dividends are a
Martin Chavez, Goldman Sachs Amanda Gordon | Bloomberg | Getty Images Marty Chavez, a veteran Goldman Sachs executive who helped transform the firm’s technology division, is leaving the bank. Chavez, who was co-head of the bank’s trading division, will retire at the end of 2019, according to a memo sent to employees Tuesday. The move