Fed’s Kashkari Says Rate Hikes Were Uncalled

The Federal Reserve erred by raising interest rates during the recovery, part of a policy implementation that misread key signals and threatened to send the economy into recession, Minneapolis Fed President Neel Kashkari said Thursday. In an unusually harsh rebuke of central bank actions, Kashkari said the central bank shouldn’t have tightened monetary policy with […]

US Secretary Mnuchin He Will Travel to Beijing Soon

U.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to Beijing soon to continue negotiations with Chinese counterparts as the world’s two biggest economies try to salvage talks aimed at ending their months-long trade war. Mnuchin did not elaborate on the timing of future negotiations, but told lawmakers at a Senate Appropriation […]

Nancy Pelosi to Meet with Trade Rep Lighthizer

House Speaker Nancy Pelosi will meet with President Donald Trump’s top trade negotiator Wednesday during a key stretch for the White House’s trade policy, a senior Democratic aide said. Pelosi, joined by House Majority Leader Steny Hoyer, D-Md., House Majority Whip James Clyburn, D-S.C. and House Ways and Means Committee Chairman Richard Neal, D-Mass., will […]

US Factory Production Fell in April

Declining output of cars and machinery led U.S. factory production to fall unexpectedly in April, a sign the economy is losing a step as a trade war with China intensifies. The Federal Reserve said on Wednesday manufacturing production fell 0.5 percent last month, the third decline in four months. Economists polled by Reuters had forecast […]