Jul 19, 2018

Trump criticizes the Federal Reserve for raising interest rates

Fed Chairman Jerome Powell. Photo: Xinhua/Liu Jie/Getty Images

President Donald Trump told CNBC's Joe Kernen that he's "not thrilled" with the Federal Reserve's decision to raise interest rates, claiming that the timing of the hikes will disrupt the booming economy and put the U.S. at a "disadvantage" compared to countries with loose monetary policy.

Why it matters via Axios' Dan Primack: Presidents are usually loathe to credit or criticize the Fed, believing there should be a separation between monetary and fiscal policy. Trump even acknowledged in the interview that he was setting himself up for criticism, but said that he "couldn't care less" because his views haven't changed from when he was a private citizen.

White House spokeswoman Lindsay Walters later told Axios: “Of course the president respects the independence of the Fed ... The President’s views on interest rates are well known and his comments today are a reiteration of those long held positions, and public comments.”

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Coronavirus updates: Market ends worst week since financial crisis

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The stock market ended its worst week since the financial crisis, prompting the Fed to release a statement. Meanwhile, the WHO warned that countries are losing their chance to contain the novel coronavirus and raised its global risk assessment to "very high" Friday.

The big picture: COVID-19 has killed more than 2,860 people and infected more than 84,000 others in over 60 countries and territories outside the epicenter in mainland China. The number of new cases reported outside China now exceed those inside the country.

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California coronavirus: Latest case has no recent history of international travel

Gov. Gavin Newsom. Photo: Kevork Djansezian/Getty Images

A new case of the novel coronavirus in California was announced on Friday after Gov. Gavin Newsom said Thursday that 33 people had tested positive for the virus, noting the risk to the public remains low.

What's new: An adult woman with chronic health conditions in Santa Clara County who "did not recently travel overseas" or come into contact with anyone known to be ill was confirmed to have contracted the coronavirus on Friday by CDC and California Department of Public Health officials.

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Big video game conference delayed amid coronavirus concerns

Photo: GDC

Next month's Game Developers Conference in San Francisco became the latest tech event to be cancelled or postponed amid growing concerns over the spread of the novel coronavirus.

The big picture: A growing number of events are being scrapped, including Mobile World Congress and Facebook's F8 developer conference. Some, like the giant SXSW event in Austin, insist they are moving forward.