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Trump also told Time Magazine that Chinese President Xi Jinping had called him to strike a tariff deal, but did not specify when the call was made or what the two leaders discussed.
The order will expedite the extraction of minerals such as nickel, copper, and rare earth elements from the ocean floor — resources crucial to the production of electric vehicle batteries, wind turbines, and other clean-energy technologies.
U.S. equity markets are coming off a three-day rally, but escalating trade tensions and increasing uncertainty between the US and China have capped momentum.
He stressed that investors are increasingly wary of U.S. Treasury bonds, traditionally viewed as safe-haven assets, due to the unpredictability introduced by the trade war.
National Association of Realtors Chief Economist Lawrence Yun said that home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage rates.
The advance number for seasonally adjusted insured unemployment during the week ending April 12 fell to 1.84 million compared to 1.88 million in the previous week.
Hammack told CNBC that the Fed can afford to be patient with rate changes and said it will act swiftly if needed, but current data does not yet warrant a move.
Evercore’s Krishna Guha warned that Federal Reserve Chair Jerome Powell remains a convenient scapegoat for any economic fallout tied to President Donald Trump’s trade war.
In a severe downside scenario, global public debt could hit 117% of GDP by 2027, surpassing World War II levels, the IMF said in its latest Fiscal Monitor report.
Deputy Treasury Secretary Michael Faulkender was chosen as the acting commissioner for the IRS last week, replacing Gary Shapley who was named to the role only three days ago.
Villeroy, the chief of France's central bank, said Trump's trade policies dampened economic growth, including for the U.S., and threatened to undermine financial stability.
Join us in exploring the top gainers and losers within the S&P500 index in the middle of the day on Tuesday as we examine the latest happenings in today's session.
After Monday’s broad-based sell-off — triggered by renewed pressure from President Donald Trump on Federal Reserve Chairman Jerome Powell, raising concerns over the integrity of central bank independence — Wall Street bounced back with strength on Tuesday, buoyed by upbeat signals from the corporate earnings sea
