Money & The Economy

In an interview on FOX Business Network’s (FBN) Mornings with Maria (weekdays 6a-9a/ET), White House Council of Economic Advisers Chairman Kevin Hassett told anchor Maria Bartiromo that his recent PBS NewsHour interview was so heavily edited that it created a completely false narrative about him. “[PBS] NewsHour people cut it to make me look as awful as possible,” Hassett told Bartiromo. “Made ...

President Donald Trump credited his tariff policy as the reason for China’s slumping economy and is pressuring them to quit “playing around” and reach a final deal on trade. China posts slowest economic numbers since 1990 due to U.S. trade tensions and new policies. Makes so much sense for China to finally do a Real Deal, and stop playing around! ...

China’s economy slowed dramatically during 2018, dropping to its lowest point in nearly 30 years as the communist country continues battling a prolonged tariff fight against U.S. President Donald Trump. The 6.6 percent growth rate reported Monday is the slowest annual pace China has recorded since 1990. The downturn deepened in the final months of 2018, suggesting the Trump administration’s ...

CVS officials said the company’s pharmacy benefit management division and Walmart were splitting over a price dispute Tuesday. The organizations walked back the announcement Friday. The split would have meant that many people who have CVS Health drug plans would no longer be able to pick up their prescriptions at Walmart locations. Walmart and CVS Health’s pharmacy benefit management (PBM) ...

Drug companies raised prices on approximately one-third of the nearly 120 drugs classified as currently or recently in shortage after the shortages began, according to a Wall Street Journal report published Friday. Many of the drugs seeing big price hikes are low-cost prescription medicines that have been on the markets for years, like valsartan. It’s a blood pressure medication available ...

The United States is expected to churn out far more oil this year than what international analysts originally forecasted. The International Energy Agency, a Paris-based organization that helps coordinate energy policies for industrial countries, released its latest oil market report on Friday, noting exceptional numbers for the U.S. fossil fuel industry. The agency reported that U.S. oil production is expected ...

U.S. home-sale prices increased just 1.2 percent in December compared to a year ago to a median of $289,800, according to a housing market analysis from Redfin, the next-generation real estate brokerage. The year-over-year increase in home prices was the smallest since the number went positive in March 2012. The median sale price of homes sold in December fell since last year in nine of the ...

House Democrats introduced a bill Wednesday that raise the federal minimum wage to $15-an-hour by 2024. Small business owners have “grave concerns” over the economic impact of the bill, Job Creators Network President and CEO Alfredo Ortiz says. A $15 minimum wage could cost the U.S. around 750,000 jobs if implemented, according to Ortiz. Small business owners have “grave concerns” ...

American energy is poised to boom in 2019, according to a federal report projecting crude oil output will average more than 12 million barrels per day this year. The more than 1 million-barrels-per-day jump in U.S. crude output will mostly come from New Mexico and Texas which sit atop what’s become the country’s most productive oil play. The U.S. Energy ...

Chinese Vice Premier Liu He is officially set to visit the United States to help negotiate an end to the long-lasting trade war between both countries. Liu has accepted an invitation to visit Washington, D.C., on January 30 and 31, where he will speak with both U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. As China’s top economic ...

California faces a new energy crisis with the bankruptcy of its biggest utility, Pacific Gas & Electric. PG&E has at least $30 billion in liabilities stemming from deadly wildfires sparked by its equipment. The bankruptcy raises questions about grid reliability, power prices and state green energy goals. Pacific Gas & Electric’s (PG&E) bankruptcy filing Monday will force California officials to ...

Walmart and CVS Health’s pharmacy benefit management (PBM) division announced they’re parting ways Tuesday, meaning that most people who have CVS Health drug plans will no longer be able to pick up their prescriptions at Walmart locations. The split was brought on by a pricing dispute. Walmart maintained that CVS was trying to control where customers filled their prescriptions, according ...

The US forex market jumped Tuesday on hopes of a truce between the United States and the Republic of China. Furthermore, the presidential assurances that he won’t impose a national emergency helped calm the situation. The market was cautious as everyone was expecting president trump to invoke his executive powers and order the construction of a border wall, even as ...

American farmers are sticking behind President Donald Trump despite a trade agenda that makes selling produce to foreign countries more difficult and less profitable, Bloomberg reported. The United States’s ongoing trade war with China is a primary concern for U.S. farmers that sell crops, especially soybeans, overseas. While Trump’s view on and use of tariffs are not popular in the ...

Fiat Chrysler has agreed to pay over half a million dollars in fines for using illegal software that produced inaccurate emissions tests results. In a massive settlement Thursday that involves the Justice Department, the Environmental Protection Agency, and the state of California, Fiat Chrysler will adhere to a number of penalties for violating the Clean Air Act and California state ...