The stock market is concerned about the economic views of far-left Democratic presidential candidates, Wall Street veteran Byron Wien told CNBC on Thursday. “The market is afraid of the more progressive Democratic candidates” who are promoting higher taxes on the rich and ambitious climate change goals, said Wien, vice chairman of private wealth solutions at
Investing
Federal Reserve Chairman Jerome Powell said the relationship between unemployment and inflation has collapsed. “The relationship between the slack in the economy or unemployment and inflation was a strong one fifty years ago … and has gone away,” Powell said on Thursday during his testimony in front of the Senate Banking Committee. He added the
krisanapong detraphiphat | Moment | Getty Images Well-known venture capital firm Andresseen Horowitz is gearing up to increase its bets on the financial technology space. The Menlo Park, California-based company announced it would hire Credit Karma’s Anish Acharya as its newest general partner in an effort to beef up its investing team with experienced players
The US flag flies over shipping cranes and containers in Long Beach, California on March 4, 2019. Mark Ralston | AFP | Getty Images This upcoming earnings season is shaping up to be a weak one. Because of uncertainty around trade wars and global growth, a bulk of U.S. companies are lowering the bar for
Federal Reserve Chairman Jerome Powell testifies during a House Financial Services Committee hearing on “Monetary Policy and the State of the Economy” in Washington, July 10, 2019. Erin Scott | Reuters All eyes in the financial world turned to Capitol Hill this week as Federal Reserve Chair Jerome Powell gave his semi-annual testimony. In his