Finance

Congress is going crypto. Lawmakers from the U.S. Senate and House of Representatives heard testimony this week regarding Facebook’s Libra project in the interest of finding a way to regulate the digital payment system and ascertain how it is different from cryptocurrencies like bitcoin. In the hourslong confabs, Congress heard testimony from Calibra chief David
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Jamie Dimon, Chairman and CEO of JP Morgan Chase speaking at the New York Economic Club on Jan. 16th, 2019. Adam Jeffery | CNBC Jamie Dimon isn’t losing sleep over Facebook‘s bid to create a new global financial system. When asked on Tuesday about Facebooks’ Libra cryptocurrency project, which has been lambasted recently by President
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Regulators, not lawmakers, should decide whether Facebook needs a banking license to launch the new digital currency Libra, according to Philip Hammond, Britain’s outgoing finance minister. Hammond also told CNBC on Monday that the British government will “engage” with Libra and won’t try to stop it. This week in the U.S., Senate and House committees
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An earnings season that delivers will play an integral role in whether the market can maintain all-time highs, according to Crossmark Global Investments’ Victoria Fernandez. The chief market strategist believes Wall Street is completely discounting second earnings expectations right now, and that leaves little room for disappointments when the season kicks off this Monday. “Earnings
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Geoffrey Berman, United States Attorney for the Southern District of New York, points to a photograph of Jeffrey Epstein as he announces the financier’s charges of sex trafficking of minors and conspiracy to commit sex trafficking of minors, in New York, U.S., July 8, 2019. Shannon Stapleton | Reuters Wealthy financier and accused child sex
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The “Fast Money ” traders shared their first moves for the market open. Pete Najarian was a buyer of Delta Air Lines. Tim Seymour was a buyer of Alphabet. Karen Finerman was a buyer of JPMorgan. Dan Nathan was a buyer of UnitedHealth. Guy Adami was a buyer of Square.  Disclosure Trader disclosure: Pete is long
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Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on his nomination to become chairman of the U.S. Federal Reserve in Washington, November 28, 2017. Joshua Roberts | Getty Images Business investments across the U.S. have slowed recently as uncertainties over the economic outlook linger, Federal Reserve Chair Jerome Powell said Wednesday
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Chamath Palihapitiya Olivia Michael | CNBC Silicon Valley venture capitalist Chamath Palihapitiya, an early investor in bitcoin, is still crazy about the cryptocurrency. “It’s the single best hedge against the traditional financial infrastructure,” Palihapitiya said in an interview Tuesday with CNBC’s Squawk Box. “Whether you support the fiscal and monetary policy or not, it doesn’t
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The Federal Reserve shouldn’t be an independent entity, economist Art Laffer told CNBC’s “Squawk Box ” on Monday. “I don’t understand why the Fed is independent, to be honest,” said Laffer, a former economic advisor to President Donald Trump and former President Ronald Reagan. “Fiscal policy is not independent. Military policy is not independent. Social
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Investor Paul Meeks is avoiding the group that made him famous. Meeks, who’s known for running world’s biggest tech fund for Merrill Lynch during the dot-com boom and subsequent collapse, is questioning valuations following the impressive run from the recent lows. “I’m neutral to frankly a little bit bearish on the sector that I’ve covered
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