U.S. Politics Trump Lashes Out at China, Sending Markets FallingThe Wall Street Journal. - William Mauldin, Alex Leary, Chao DengPresident Trump said he “hereby ordered” U.S. companies doing business in China to explore relocating their operations and stiffened tariffs on Chinese imports after Beijing unveiled its own new levies
U.S. Chamber of Commerce Trump Orders U.S. Businesses to Find Alternative to ChinaThe Wall Street Journal. - Chao Deng, William MauldinPresident Trump said U.S. companies were “hereby ordered” to start looking for alternatives to doing business in China after Beijing said it would impose tariffs on $75 billion worth of additional U.S.
Business Fed's Clarida Shrugs Off Market Drop, Offers Little Guidance on RatesThe Wall Street Journal. - Michael S. DerbyThe Fed’s second-in-command shrugged off heavy stock-market losses in a television interview Friday and affirmed his positive view on the economy, in comments that offered little guidance on what he would
Jerome Powell Powell Issues Warning Over Trade, Signals More Rate Cuts Are PossibleThe Wall Street Journal. - Nick TimiraosJACKSON HOLE, Wyo.—Federal Reserve Chairman Jerome Powell gave his most forceful warning yet about the risks to the U.S. economy from escalating trade tensions and the limits to the central bank’s ability
Currency BOE's Carney Floats Idea of New, Virtual Reserve CurrencyThe Wall Street Journal. - Jason DouglasLONDON—Central banks should consider joining forces to create a virtual currency that could supplant the dollar’s role in the global economy, Bank of England Gov. Mark Carney said, offering a novel solution
U.S. Congress Divided G-7 Leaders Headed for Clashes at Tense SummitThe Wall Street Journal. - Stacy Meichtry, Josh Zumbrun, Rebecca BallhausOnce a showcase for international cooperation, Group of Seven summits have turned into minefields of geopolitical discord—and this year’s gathering promises another feast of high-level squabbling. The
Business Newsletter: U.S. Factories Slump, All Eyes on the FedThe Wall Street Journal. - Jeffrey SparshottThis is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here . The U.S. expansion may be losing momentum, markets are hanging on a speech from Fed Chairman Jerome
U.S. Politics Investors Look to Jackson Hole for Clues on Fed MovesThe Wall Street Journal. - Nick TimiraosFederal Reserve officials will be joined by academic economists and central bankers from around the world at a mountain resort near Jackson Hole, Wyo., on Friday and Saturday for the Kansas City Fed’s
Business Central Bankers' Jackson Hole Retreat: A Cheat SheetThe Wall Street Journal. - Nick TimiraosJACKSON HOLE, Wyo.—For the central bankers gathered in the Grand Tetons, a meaty discussion of exchange rates and monetary policy spillovers will take precedence over fly fishing and mountain hiking. Federal
U.S. Politics Powell Faces Challenge Defining Doctrine Around When to Cut RatesThe Wall Street Journal. - Nick TimiraosJACKSON HOLE, Wyo.—The Federal Reserve struggled to provide a single explanation for why it cut interest rates last month because its officials supported the move for different reasons. Fed Chairman Jerome
Business Stumbling Global Economies Fan Recession FearsThe Wall Street Journal. - Josh Mitchell, Jason DouglasManufacturing activity is falling in most of the world’s advanced economies, another sign that a deepening global slowdown is weighing on the U.S. expansion. An index of factory activity in August declined
Traffic Price of Good Economy: More Time Stuck in TrafficThe Wall Street Journal. - David HarrisonTraffic congestion has worsened as the economy improved, adding roughly 12 minutes a day to the average car commute, according to a report released Thursday. That is 54 hours a year, almost as long as
Business Three Fed Officials Offer Diverging Views on Rate Cuts in TV InterviewsThe Wall Street Journal. - Michael S. DerbyThree Federal Reserve officials offered diverging views on the path for monetary policy in television interviews on Thursday. Two officials expressed skepticism over the need for lower rates. A third a
Business Big Banks Struggled With Fed Communications Ahead of July FOMCThe Wall Street Journal. - Michael S. DerbyAs the Federal Reserve prepared to implement its first interest rate cut in over a decade, many of Wall Street’s biggest banks weren’t happy with the story officials were telling markets. A majority of
Business ECB Minutes Back Up Signals of Broad Stimulus PackageThe Wall Street Journal. - Brian BlackstoneEuropean Central Bank officials gave a further signal that they would launch a big stimulus package next month, which could include rate cuts and asset purchases, in an effort to arrest the region’s economic
Business ECB Discussed Combining Rate Cuts, Bond Purchases at July MeetingThe Wall Street Journal. - Brian BlackstoneZURICH—European Central Bank officials discussed the benefits of combining interest-rate cuts with bond purchases at their meeting on July 25, according to meeting minutes released Thursday. “The view
Business Newsletter: The U.S. Economy Looks Fine. What Happens if that Changes?The Wall Street Journal. - Jeffrey SparshottThis is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here . Policy makers don't have a ton of options if the economy sours, the Labor Department revised away
U.S. Politics Officials See Few Options if Slowdown HitsThe Wall Street Journal. - Rebecca Ballhaus, Nick TimiraosAfter debating for days whether the U.S. is going into an economic downturn, Washington policy makers and Wall Street investors on Wednesday barreled into an even more difficult problem: There are few
Business U.S. Job Growth Weaker Through March Than Earlier Reported, New Data ShowThe Wall Street Journal. - Josh Mitchell, Paul KiernanGovernment agencies in recent weeks have substantially lowered their estimates of job gains, output growth and corporate profits over different periods since early 2018 through the first quarter of this
U.S. Politics Fed Officials Viewed July Rate Cut as 'Recalibration' of PolicyThe Wall Street Journal. - Nick TimiraosWASHINGTON—Federal Reserve officials faced divisions over their decision to cut interest rates last month and saw their move as a “recalibration” rather than the start of a more aggressive easing cycle.
Ivanka Trump In Reversal, Trump Says He Is No Longer Considering Tax CutsThe Wall Street Journal. - Rebecca Ballhaus, Alex Leary, Andrew RestucciaWASHINGTON—President Trump backed away from pursuing new tax cuts to bolster the U.S. economy, a sharp reversal from a day earlier, when he had described several such measures the White House was contemplating.
Business U.S. Existing-Home Sales Picked Up in JulyThe Wall Street Journal. - Will Parker, Harriet TorrySales of previously owned U.S. homes picked up in July, a sign that lower mortgage rates may be finally starting to drive sales after a weak spring selling season. July marked the first year-over-year
U.S. Politics Capital-Gains Tax Change Would Drive Only Modest Boost, Economists SayThe Wall Street Journal. - Richard Rubin, Michael WursthornThe potential capital-gains tax cut floated and then seemingly dismissed this week by President Trump would likely deliver only modest economic benefits, economists say, making it a questionable tool stimulating
Monetary Policy Fed's Kashkari Calls for Return of Forward Guidance for Monetary PolicyThe Wall Street Journal. - Michael S. DerbyFederal Reserve Bank of Minneapolis President Neel Kashkari wants the Fed to make a firmer commitment to getting inflation back up to its 2% target. “At a minimum, we should commit to not raising rates
C-Bo Federal Deficits to Grow More Than Expected in Next Decade, CBO SaysThe Wall Street Journal. - Kate DavidsonWASHINGTON—Federal deficits are projected to grow much more than expected over the next decade after a budget agreement struck last month, pushing government debt as a share of the economy closer to the
U.S. Politics Fed Minutes to Show Committee Divide on Last Month's Rate CutThe Wall Street Journal. - Nick TimiraosThe Federal Reserve releases the minutes of its July 30-31 meeting on Wednesday at 2 p.m. EDT, shedding more light on its decision to cut interest rates for the first time in more than a decade. Officials
Business History Will Remember the Trade War's Economic Impact, Not the Fed'sThe Wall Street Journal. - Greg IpEconomists see recessions as complex phenomena with multiple causes. Historians and the public prefer simple narratives. So while a recession remains for now more risk than reality, the fight over the
Business Newsletter: Trump Considers Steps to Spur Economy, College-Educated Women Reshape the WorkplaceThe Wall Street Journal. - Jeffrey SparshottThis is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here . The White House is sending mixed messages on the economy, Fed officials don't sound worried about
U.S. Politics Trump Weighs Options to Spur the EconomyThe Wall Street Journal. - Rebecca Ballhaus, Andrew Restuccia, Richard RubinWASHINGTON—President Trump said he is considering measures to bolster the economy, including a possible reduction in capital-gains taxes, and continued to press the Federal Reserve to cut interest rates
