‘They’re trying to impeach the son of a bitch, can you believe that?’ Trump tells LSU championship football team before Senate trial

Days before his Senate trial is to begin in earnest, President Donald Trump told the visiting LSU football team Friday: “They’re trying to impeach the son of a bitch, can you believe that?” It’s been there a long time,” Trump told the team, which easily beat Clemson 42-25 in the national title game in New Orleans, which the president attended. “A lot of presidents, some good, some not so good,” Trump said of his predecessors. “But you got a good one now, even though they’re trying to impeach the


Days before his Senate trial is to begin in earnest, President Donald Trump told the visiting LSU football team Friday: “They’re trying to impeach the son of a bitch, can you believe that?”
It’s been there a long time,” Trump told the team, which easily beat Clemson 42-25 in the national title game in New Orleans, which the president attended.
“A lot of presidents, some good, some not so good,” Trump said of his predecessors.
“But you got a good one now, even though they’re trying to impeach the
‘They’re trying to impeach the son of a bitch, can you believe that?’ Trump tells LSU championship football team before Senate trial Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: dan mangan
Keywords: news, cnbc, companies, believe, weve, good, terrorists, told, football, trying, trump, team, son, senate, lsu, theyre, tells, trial, impeach


'They're trying to impeach the son of a bitch, can you believe that?' Trump tells LSU championship football team before Senate trial

Days before his Senate trial is to begin in earnest, President Donald Trump told the visiting LSU football team Friday: “They’re trying to impeach the son of a bitch, can you believe that?”

Trump’s salty comment about himself came as he welcomed the national college football championship team at the White House’s East Room

At one point, with team members behind him, Trump invited the players into the Oval Office to pose with him for photos.

“We’ll take pictures behind the Resolute Desk. It’s been there a long time,” Trump told the team, which easily beat Clemson 42-25 in the national title game in New Orleans, which the president attended.

“A lot of presidents, some good, some not so good,” Trump said of his predecessors.

“But you got a good one now, even though they’re trying to impeach the son of a bitch, can you believe that?” Trump said to raucous laughter from his audience.

“Can you believe that? Got the greatest economy we’ve ever had, Joe. We’ve got the greatest military. We rebuilt it. We took out those terrorists like your football team would have taken out those terrorists, right?”


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: dan mangan
Keywords: news, cnbc, companies, believe, weve, good, terrorists, told, football, trying, trump, team, son, senate, lsu, theyre, tells, trial, impeach


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The US is running a $1 trillion deficit, but politicians and investors don’t see a problem

The U.S. Treasury released eye-popping numbers this week that show the federal budget deficit is on course to cross $1 trillion in fiscal 2020, yet nobody seems to care. The government ran a deficit of $357 billion in the fiscal quarter ending in December and is on track to reach $1 trillion this fiscal year for the first time since 2012. Strategists and economists say the ballooning deficit doesn’t really matter, as much as it did when unemployment was high and the economy was weaker. Just seve


The U.S. Treasury released eye-popping numbers this week that show the federal budget deficit is on course to cross $1 trillion in fiscal 2020, yet nobody seems to care.
The government ran a deficit of $357 billion in the fiscal quarter ending in December and is on track to reach $1 trillion this fiscal year for the first time since 2012.
Strategists and economists say the ballooning deficit doesn’t really matter, as much as it did when unemployment was high and the economy was weaker.
Just seve
The US is running a $1 trillion deficit, but politicians and investors don’t see a problem Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: patti domm
Keywords: news, cnbc, companies, fiscal, unemployment, deficit, spending, politicians, high, investors, dont, treasury, problem, trillion, theyre, running, rates, deficits


The US is running a $1 trillion deficit, but politicians and investors don't see a problem

The U.S. Treasury released eye-popping numbers this week that show the federal budget deficit is on course to cross $1 trillion in fiscal 2020, yet nobody seems to care.

The government ran a deficit of $357 billion in the fiscal quarter ending in December and is on track to reach $1 trillion this fiscal year for the first time since 2012. On a calendar basis, 2019 was the first year to touch $1 trillion since 2012.

As a result, the Treasury Department has been expanding its debt issuance to cover a deficit that has been rising every year since 2016, including a plan to issue a new 20-year note.

If interest rates “went up for a couple months, … people would say this is getting more expensive,” said Michael Schumacher, director rates strategy at Wells Fargo Securities. “Right now, they’re not focused on it and that’s one of the reasons why you have none of the political candidates focused on it. … They don’t care. The market is not penalizing them for it.”

Strategists and economists say the ballooning deficit doesn’t really matter, as much as it did when unemployment was high and the economy was weaker. Unemployment is now at five-decade lows, and U.S. interest rates are historically low, though higher than most other countries, making U.S. Treasury yields quite attractive.

“The deficits are big, but I don’t think at this point they are problematic because you’ve got this relatively high global savings rate, and even though the U.S. deficits are large, they’re still much lower than where they are in other parts of the world,” said Joseph LaVorgna, chief economist Americas at Natixis. He said the deficit normally does not grow when the unemployment rate is low.

Just several years ago, politicians would have been bickering about high spending and high deficits, and in the past administration, squabbling over spending and deficits shut down the government.

“First, deficit hawks are now an endangered species in Washington. During President Obama’s administration, Republicans worked hard to contain the deficit, insisting on rigid caps on spending,” wrote Bank of America economists. “More recently not only have the caps been raised, but the recent tax cuts were funded mainly with additional borrowing.”


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: patti domm
Keywords: news, cnbc, companies, fiscal, unemployment, deficit, spending, politicians, high, investors, dont, treasury, problem, trillion, theyre, running, rates, deficits


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One S&P 500 sector is enjoying a stealth rally to records

There’s been a surprising winner as markets have rallied to records — the utilities sector. The XLU utilities ETF is up 3% this week, nearly double the gain on the S&P 500, and the top performer on markets. While the utilities sector yields 3%, the 10-year holds at 1.8%. The other high-dividend sectors are REITs and energy. Gordon adds that American Electric Power and Dominion Energy look like two good candidates to get exposure to the sector.


There’s been a surprising winner as markets have rallied to records — the utilities sector.
The XLU utilities ETF is up 3% this week, nearly double the gain on the S&P 500, and the top performer on markets.
While the utilities sector yields 3%, the 10-year holds at 1.8%.
The other high-dividend sectors are REITs and energy.
Gordon adds that American Electric Power and Dominion Energy look like two good candidates to get exposure to the sector.
One S&P 500 sector is enjoying a stealth rally to records Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: keris lahiff
Keywords: news, cnbc, companies, rally, sectors, yield, xlu, stealth, 500, highdividend, yields, gordon, utilities, theyre, sector, records, week, enjoying


One S&P 500 sector is enjoying a stealth rally to records

There’s been a surprising winner as markets have rallied to records — the utilities sector.

The XLU utilities ETF is up 3% this week, nearly double the gain on the S&P 500, and the top performer on markets.

Todd Gordon, founder of TradingAnalysis.com, sees signs its outperformance can continue.

“The story begins, I think, with yields, no surprise here. We’ve seen U.S. bond yields drop,” Gordon said on CNBC’s “Trading Nation” on Thursday. “We’re moving lower here in the 10-year yield following a very clear correlation of declining yields and strong utilities. We’re seeing the XLU … break to new highs so obviously that’s a very strong indicator.”

Bond yields and high-dividend sectors such as utilities move inversely — investors hunt for alternative sources of yield in defensive trades such as utilities and real estate investment trusts.

“Sometimes I’ve seen these sectors kind of lead the underlying bond market, which is very strange, so perhaps utilities are signaling that we might see lower yields to come,” Gordon added.

Gina Sanchez, CEO of Chantico Global, says utilities could still outperform despite sky-high multiples.

“We have utilities at really high multiples — I mean, utilities are regulated, they’re slow growers, they’re great payers, they’re not supposed to be at multiples of 21 times,” Sanchez said during the same segment. “And yet that’s where they are, and yet their dividends are still almost 3%, they’re still the third-highest-paying dividend sector in the S&P.”

While the utilities sector yields 3%, the 10-year holds at 1.8%. The other high-dividend sectors are REITs and energy.

“That basically tells you that there’s actually still going to be some capital that will be attracted to that dividend, especially, to Todd’s point, if rates continue to go low and it will drive investors into high-dividend sectors,” said Sanchez.

Gordon adds that American Electric Power and Dominion Energy look like two good candidates to get exposure to the sector. AEP is up 4% this week, while Dominion has climbed more than 1%.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: keris lahiff
Keywords: news, cnbc, companies, rally, sectors, yield, xlu, stealth, 500, highdividend, yields, gordon, utilities, theyre, sector, records, week, enjoying


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Hedge fund legends David Tepper and Stanley Druckenmiller tell CNBC they’re still bullish, for now

Billionaire investors David Tepper and Stanley Druckenmiller told CNBC on Friday they remain bullish on the market even as stocks keep hitting record highs. Tepper, the Appaloosa Management founder, exclusively emailed “Squawk Box” co-host Joe Kernen, saying, “I love riding a horse that’s running.” The Fed-driven stock market rally that ensued at the time became known as the “Tepper rally.” Tepper started Appaloosa in 1993, and grew it into a powerhouse, returning 25% a year. In May, he said he


Billionaire investors David Tepper and Stanley Druckenmiller told CNBC on Friday they remain bullish on the market even as stocks keep hitting record highs.
Tepper, the Appaloosa Management founder, exclusively emailed “Squawk Box” co-host Joe Kernen, saying, “I love riding a horse that’s running.”
The Fed-driven stock market rally that ensued at the time became known as the “Tepper rally.”
Tepper started Appaloosa in 1993, and grew it into a powerhouse, returning 25% a year.
In May, he said he
Hedge fund legends David Tepper and Stanley Druckenmiller tell CNBC they’re still bullish, for now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: matthew j belvedere
Keywords: news, cnbc, companies, david, rally, started, tepper, told, appaloosa, returning, nearly, hedge, druckenmiller, source, reserve, tell, theyre, legends, stanley, fund, market


Hedge fund legends David Tepper and Stanley Druckenmiller tell CNBC they're still bullish, for now

Billionaire investors David Tepper and Stanley Druckenmiller told CNBC on Friday they remain bullish on the market even as stocks keep hitting record highs.

Tepper, the Appaloosa Management founder, exclusively emailed “Squawk Box” co-host Joe Kernen, saying, “I love riding a horse that’s running.” He added, “We have been long and continue that way.”

However, Tepper said, “At some point, the market will get to a level that I will slow down that horse and eventually get off.” He did not specify when that might be.

While Tepper provided no further details on what may cause him to get out of the market, a source told CNBC’s Scott Wapner that Tepper got more fully invested in December.

The source said Tepper started to believe last month that the market was going to continue higher as the Federal Reserve was putting more money into the system and as U.S.-China trade tensions were starting to ease.

Appaloosa outperformed in December and so far in January, the source told Wapner.

The S&P 500 gained nearly 2.9% in December, capping an almost 29% advance for all of 2019 in the best year since 2013. The index picked up where it left off in 2020, increasing nearly 2.8% this month.

Tepper is well-known for a 2010 market call he made on CNBC that super-low interest rates by the Federal Reserve, coupled with the central bank’s massive bond-buying, would make most investment choices go up. The Fed-driven stock market rally that ensued at the time became known as the “Tepper rally.” The market rally continued the entire decade.

Tepper started Appaloosa in 1993, and grew it into a powerhouse, returning 25% a year. In May, he said he was returning Appaloosa capital to investors and converting the fund into a family office. Tepper also owns the NFL’s Carolina Panthers.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: matthew j belvedere
Keywords: news, cnbc, companies, david, rally, started, tepper, told, appaloosa, returning, nearly, hedge, druckenmiller, source, reserve, tell, theyre, legends, stanley, fund, market


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How to find your lost AirPods and even make them ring if they’re hiding in the couch

Apple AirPods Pro AppleThere’s a really easy way to find your lost AirPods. Maybe you’re just searching around for the last place your left your AirPods case and want to make sure they’re nearby. How to find your lost AirPodsThe Find My app on your iPhone will show where your AirPods last connected to your iPhone. How to make your AirPods ring so you can find them if they’re nearbyYou can ring each individual AirPod to help you find them if they’re nearby. Todd Haselton | CNBCIf you’ve done the


Apple AirPods Pro AppleThere’s a really easy way to find your lost AirPods.
Maybe you’re just searching around for the last place your left your AirPods case and want to make sure they’re nearby.
How to find your lost AirPodsThe Find My app on your iPhone will show where your AirPods last connected to your iPhone.
How to make your AirPods ring so you can find them if they’re nearbyYou can ring each individual AirPod to help you find them if they’re nearby.
Todd Haselton | CNBCIf you’ve done the
How to find your lost AirPods and even make them ring if they’re hiding in the couch Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: todd haselton
Keywords: news, cnbc, companies, hiding, lost, airpods, couch, haselton, case, ring, iphone, todd, theyre, app, nearby


How to find your lost AirPods and even make them ring if they're hiding in the couch

Apple AirPods Pro Apple

There’s a really easy way to find your lost AirPods. Maybe you’re just searching around for the last place your left your AirPods case and want to make sure they’re nearby. But there’s even a way to find individual AirPod buds in case you accidentally drop one of them under the couch. I’ll show you how.

How to find your lost AirPods

The Find My app on your iPhone will show where your AirPods last connected to your iPhone. Todd Haselton | CNBC

If you have no idea where you left your AirPods — and I mean the entire case with both AirPods in it — do this: Open the Find My app on your iPhone.

Select the Devices tab on the bottom.

Select your AirPods. Your iPhone will show you the last known location where they connected to your iPhone, right on a map. This will let you know if you accidentally left them at work or if they’re still cruising around in an Uber you rode in.

How to find your AirPods without an iPhone

You can use iCloud.com to find your AirPods if you don’t have your iPhone. Todd Haselton | CNBC

Go to www.icloud.com from a computer browser.

Log in with your Apple ID.

Select Find iPhone.

Choose your AirPods from the drop-down menu that says All Devices at the top of the screen.

How to make your AirPods ring so you can find them if they’re nearby

You can ring each individual AirPod to help you find them if they’re nearby. Todd Haselton | CNBC

If you’ve done the earlier steps and know your AirPods are nearby, you can use the app to make them ring. This will work whether or not you have the case, and even if you lost only one. Open the Find My app on your iPhone.

Select the Devices tab on the bottom.

Select your AirPods.

Now tap “Play Sound.”

Your AirPods will begin chirping — follow the sounds of the chirps until you find them.

How much does it cost to replace AirPods?

Apple AirPods Pro Todd Haselton | CNBC


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: todd haselton
Keywords: news, cnbc, companies, hiding, lost, airpods, couch, haselton, case, ring, iphone, todd, theyre, app, nearby


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Beijing cracking down on IP theft could boost investment in China, former US negotiator says

He explained that the trade agreement’s provisions to protect intellectual property would make a difference for many of the companies doing business in China. They’re going to have due process for the judicial proceedings. It calls for China to submit an “Action Plan to strengthen intellectual property protection” within 30 days of the agreement taking effect. I’ll also make the point, this is going for China,” Willems said. Ultimately, “better intellectual property protection means more investm


He explained that the trade agreement’s provisions to protect intellectual property would make a difference for many of the companies doing business in China.
They’re going to have due process for the judicial proceedings.
It calls for China to submit an “Action Plan to strengthen intellectual property protection” within 30 days of the agreement taking effect.
I’ll also make the point, this is going for China,” Willems said.
Ultimately, “better intellectual property protection means more investm
Beijing cracking down on IP theft could boost investment in China, former US negotiator says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, investment, property, trade, willems, boost, theyre, theft, white, negotiator, intellectual, going, beijing, china, cracking, agreement


Beijing cracking down on IP theft could boost investment in China, former US negotiator says

President Donald Trump, with (L-R) Vice President Mike Pence, Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer, speaks during a press conference with Chinas Vice Premier Liu He(not shown), the countrys top trade negotiator, before they sign a trade agreement between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020.

If Beijing cracks down hard on intellectual property thefts, it would not only boost the U.S. economy but it would also be good for China, according to a former top White House trade official.

Taking steps to protect trade secrets of foreign businesses operating in the world’s second-largest economy was part of the “phase one” trade deal that U.S. President Donald Trump signed with China on Wednesday.

“To me, the most significant part of this (deal) was what the U.S. was able to achieve on intellectual property,” Clete Willems, a partner at law firm Akin Gump, told CNBC’s “Squawk Box” on Thursday. “Trade secrets theft has been a long-time concern for U.S. businesses, and businesses around the world.”

Willems was previously the deputy director of the National Economic Council and served as the lead trade negotiator for the United States at multilateral summits like the G-7 and G-20.

He explained that the trade agreement’s provisions to protect intellectual property would make a difference for many of the companies doing business in China. “They’re going to have criminal penalties. They’re going to have due process for the judicial proceedings. They’re going to apply those penalties broader than they did in the past,” Willems said, adding there are provisions about pharmaceutical patents and counterfeit goods in the trade pact.

Wednesday’s agreement takes steps to root out several practices by Beijing that has irked the White House and members of Congress from both parties, including intellectual property theft and forced technology transfers from U.S. firms in exchange for Chinese market access.

It calls for China to submit an “Action Plan to strengthen intellectual property protection” within 30 days of the agreement taking effect. The proposal would include “measures that China will take to implement its obligations” and “the date by which each measure will go into effect.” (Read the full agreement here)

Part of the deal also details a $200 billion increase in Beijing’s purchases of U.S. goods over two years as well as commitment from Beijing to allow companies to operate without “any force or pressure” to hand over their technology — that, along with the trade secrets protection provisions, are likely to have ramifications for the U.S. tech sector, where firms want market access in China but are also suspicious over how government officials can access private data stored there.

“If you put it all together, it is going to be a big boost for the U.S. economy. I’ll also make the point, this is going for China,” Willems said. “This really empowers those in China that want to reform their system, want to make it more market-oriented and help them move down that path.”

Ultimately, “better intellectual property protection means more investment in China,” he added.

Still, some experts have expressed concerns about how the U.S. would ensure China keeps up with its commitments. Willems said the promise of further reduction in U.S. tariffs in the second phase of the trade agreement would likely be an incentive for Beijing to “faithfully implement this agreement.”

Another option for Washington would be to convince allies to work with the U.S. to enforce the agreement in a multilateral system to make it more sustainable and prevent Beijing from backsliding from its commitments, according to Willems.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, investment, property, trade, willems, boost, theyre, theft, white, negotiator, intellectual, going, beijing, china, cracking, agreement


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Jim Cramer: Microsoft’s attempt to fight climate change matters

Jim Cramer: Microsoft’s attempt to fight climate change matters”Whether or not Microsoft can save the environment, what matters is that they’re making the attempt and the stock wasn’t punished for it,” CNBC’s Jim Cramer says.


Jim Cramer: Microsoft’s attempt to fight climate change matters”Whether or not Microsoft can save the environment, what matters is that they’re making the attempt and the stock wasn’t punished for it,” CNBC’s Jim Cramer says.
Jim Cramer: Microsoft’s attempt to fight climate change matters Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, cramer, stock, jim, microsoft, fight, theyre, save, microsofts, wasnt, matters, punished, attempt, change, climate


Jim Cramer: Microsoft's attempt to fight climate change matters

Jim Cramer: Microsoft’s attempt to fight climate change matters

“Whether or not Microsoft can save the environment, what matters is that they’re making the attempt and the stock wasn’t punished for it,” CNBC’s Jim Cramer says.


Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, cramer, stock, jim, microsoft, fight, theyre, save, microsofts, wasnt, matters, punished, attempt, change, climate


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These are the 20 best jobs in America in 2020, according to a new ranking—and they’re hiring

According to Glassdoor economist Daniel Zhuo, there are a number of unfilled jobs after the holiday slump that recruiters are eager to fill at the top of the year. “Our advice to job seekers is to be patient but proactive,” says Zhuo. Using data from its platform, Glassdoor created a list of the best jobs in 2020 that job seekers should keep a close eye on. Seven of the top 10 jobs on the list are in tech, with front-end engineer coming in at the top spot. Take a look below to see what roles rou


According to Glassdoor economist Daniel Zhuo, there are a number of unfilled jobs after the holiday slump that recruiters are eager to fill at the top of the year.
“Our advice to job seekers is to be patient but proactive,” says Zhuo.
Using data from its platform, Glassdoor created a list of the best jobs in 2020 that job seekers should keep a close eye on.
Seven of the top 10 jobs on the list are in tech, with front-end engineer coming in at the top spot.
Take a look below to see what roles rou
These are the 20 best jobs in America in 2020, according to a new ranking—and they’re hiring Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: courtney connley
Keywords: news, cnbc, companies, job, according, theyre, recruiters, best, america, list, roles, seekers, rankingand, jobs, zhuo, number, salary, 2020, hiring, glassdoors


These are the 20 best jobs in America in 2020, according to a new ranking—and they're hiring

If you’re looking for a job with more pay, opportunity or benefits, then now is the perfect time to revamp your resume and apply.

According to Glassdoor economist Daniel Zhuo, there are a number of unfilled jobs after the holiday slump that recruiters are eager to fill at the top of the year. And workers seem eager to apply: There has been a 22% boost in job applications started on Glassdoor’s platform in January.

“Our advice to job seekers is to be patient but proactive,” says Zhuo. “Job seekers should ride the wave of motivation into the new year but should be aware that recruiters and hiring managers may be slower to respond in January as they return from the holidays and sort through a higher-than-usual volume of applications.”

Using data from its platform, Glassdoor created a list of the best jobs in 2020 that job seekers should keep a close eye on. These jobs are ranked based on salary, a job satisfaction score on a scale of one to five, and number of job openings on Glassdoor’s platform.

Seven of the top 10 jobs on the list are in tech, with front-end engineer coming in at the top spot.

Data scientist, which previously held the No. 1 spot for the past four years, fell to number three this year.

And Java developer came in the second spot.

All of these roles offer a salary of $80,000 or more, and they all have a satisfactory rating of 3.9 or above.

Take a look below to see what roles rounded out the top 20 spots on Glassdoor’s list of best jobs in America in 2020.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: courtney connley
Keywords: news, cnbc, companies, job, according, theyre, recruiters, best, america, list, roles, seekers, rankingand, jobs, zhuo, number, salary, 2020, hiring, glassdoors


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The Fed could cut interest rates 3 times this year, UBS predicts

Swiss wealth giant UBS has predicted that the U.S. Federal Reserve could lower interest rates three times in 2020 — a forecast that differs widely from many other projections calling for no change or just one rate cut this year. The CME FedWatch tool places the probability of the Fed standing pat on interest rates at more than 50% through September. “We think they’re going to get that downshift. So, we’re thinking first cut maybe in March but we really need to see … loss of growth momentum,” h


Swiss wealth giant UBS has predicted that the U.S. Federal Reserve could lower interest rates three times in 2020 — a forecast that differs widely from many other projections calling for no change or just one rate cut this year.
The CME FedWatch tool places the probability of the Fed standing pat on interest rates at more than 50% through September.
“We think they’re going to get that downshift.
So, we’re thinking first cut maybe in March but we really need to see … loss of growth momentum,” h
The Fed could cut interest rates 3 times this year, UBS predicts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: yen nee lee
Keywords: news, cnbc, companies, tool, growth, think, ubs, going, theyre, temporary, cut, tariffs, trade, fed, times, predicts, rates, interest


The Fed could cut interest rates 3 times this year, UBS predicts

Swiss wealth giant UBS has predicted that the U.S. Federal Reserve could lower interest rates three times in 2020 — a forecast that differs widely from many other projections calling for no change or just one rate cut this year.

Arend Kapteyn, global head of economic research at UBS, said on Tuesday that tariffs implemented in the trade war between Washington and Beijing would drag down U.S. growth to just 0.5% year-on-year in the first half of 2020.

The U.S. last raised tariffs on Chinese goods in September, with China following up with its own duty increase on a variety of American products. Further tariff hikes initially scheduled for December were put off as both sides agreed to hammer out the so-called phase one trade deal.

“We think this tariff damage is going to push U.S. growth down … that’s actually going to trigger three Fed cuts, which is way off consensus, nobody believes that,” he told CNBC’s “Street Signs Asia” from the UBS Greater China Conference in Shanghai.

The CME FedWatch tool places the probability of the Fed standing pat on interest rates at more than 50% through September. For the central bank’s meetings in November and December, that probability falls to 47% and and 40.5%. The tool is based on futures pricing from live markets and reflects the views of traders placing real bets on the CME exchange.

Kapteyn noted that Fed officials themselves have shown little inclination to make any moves, with meeting minutes indicating that they’re at “a comfortable hold” and would want to see “a material downshift in the data” before reassessing their position.

“We think they’re going to get that downshift. I think you need quite a bit of additional evidence though before they get there. So, we’re thinking first cut maybe in March but we really need to see … loss of growth momentum,” he said.

Still, Kapteyn stressed that the impact from tariffs could just be temporary and that the U.S. is not headed into a recession.

“Even though we have this big slowdown and these cuts, we don’t think you get to recession level,” he said. “So basically temporary disruption, you get past them pretty quickly and then everything is back to trend.”

— CNBC’s Yun Li contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: yen nee lee
Keywords: news, cnbc, companies, tool, growth, think, ubs, going, theyre, temporary, cut, tariffs, trade, fed, times, predicts, rates, interest


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China is the ‘most serious threat’ to the United States, says former security advisor to Obama

A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on November 6, 2018. Johannes Eisele | AFP | Getty ImagesBeijing has been forthcoming about its long-term goals and is the “most serious threat” to the U.S., according to a former U.S. national security advisor. “China has been very clear about what its long-term goals are strategically,” James Jones, who served as NSA under former President Barack Obama, told CNBC’s Hadley Gamble. “They’re mak


A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on November 6, 2018.
Johannes Eisele | AFP | Getty ImagesBeijing has been forthcoming about its long-term goals and is the “most serious threat” to the U.S., according to a former U.S. national security advisor.
“China has been very clear about what its long-term goals are strategically,” James Jones, who served as NSA under former President Barack Obama, told CNBC’s Hadley Gamble.
“They’re mak
China is the ‘most serious threat’ to the United States, says former security advisor to Obama Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: abigail ng
Keywords: news, cnbc, companies, trade, values, obama, theyre, china, united, advisor, security, states, progress, world, jones, threat, using, serious, making, strategically


China is the 'most serious threat' to the United States, says former security advisor to Obama

A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on November 6, 2018. Johannes Eisele | AFP | Getty Images

Beijing has been forthcoming about its long-term goals and is the “most serious threat” to the U.S., according to a former U.S. national security advisor. “China has been very clear about what its long-term goals are strategically,” James Jones, who served as NSA under former President Barack Obama, told CNBC’s Hadley Gamble. “We need to take that very seriously.” One Chinese goal is “total control of their own people using technology,” he said at the Atlantic Council Global Energy Forum in Abu Dhabi on Sunday. “They’re making astonishing progress to control every single citizen, whatever he or she does.” “They’re giving grades for citizenship, which will affect their jobs you’re going to hold, the travel you can do and everything else,” he added, seeming to refer to China’s social credit system. “Where they’re moving is scary,” he said. “They obviously want to export that to other countries.”

‘Trojan horse effect’

He said Beijing is using a “Trojan horse” strategy to gain influence in “many parts of the world.” “They penetrate the economies, they buy up everything they can, pay off everybody they can…get a chokehold on the economy as much as they can and then make demands for the behavior of the government,” he said. That’s something the U.S. should address, said Jones. “One of the things that concerns me a little bit is that we’ve stopped talking about values in the world…even in the democratic countries. We should talk about human rights,” he said. Asked if the U.S. should support protesters in Hong Kong even if it puts trade talks with China at risk, Jones said: “Is trade more important than human values?” He noted that the U.S. didn’t trade with the Soviet Union during the Cold War until the Berlin Wall came down and the regime collapsed. “But in China’s case, we were asleep at the switch,” he said. “They were making astonishing progress, and all of a sudden they’re pure competitors.” “I’m not sure that we really understand the degree to which China is strategically intent on replacing the United States as the most dominant culture in the world,” he said.

Tech competition


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: abigail ng
Keywords: news, cnbc, companies, trade, values, obama, theyre, china, united, advisor, security, states, progress, world, jones, threat, using, serious, making, strategically


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