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News
Wall Street week ahead: Federal Reserve decision on interest rates, retail sales update
7+ hour, 55+ min ago (260+ words) NEW YORK – The Federal Reserve and its interest rate policy will be the main focus for Wall Street this week. The central bank will close out its two-day meeting on Wednesday and could raise its benchmark interest rate in an…...
US wholesale prices rise in latest sign of stubborn inflation as oil prices continue to climb
2+ day, 11+ hour ago (267+ words) Excluding the volatile food and energy categories, core prices rose 0.2% from July to August, the same as the previous month. Compared with a year ago, core prices rose 4.6%, up from 4.2% in July. Other items that jumped in price include airfares,…...
Stocks fall after a surprisingly strong jobs report raises prospects of an interest rate hike
1+ week, 1+ day ago (598+ words) MySA...
United States likely added 65,000 jobs last month, but jobseekers struggle and pay gains are meager
1+ week, 1+ day ago (612+ words) WASHINGTON – The U.S. Labor Department is expected to report Friday that the American job market bounced back last month from a dismal July, even though jobseekers continue to struggle and pay gains are slight. And the employment outlook remains clouded…...
Average rate on a 30-year mortgage climbs to highest level in 13 months
1+ week, 2+ day ago (580+ words) Mortgage rates rose again this week, driving the average long-term U.S. home loan rate to its highest level in more than a year. The benchmark 30-year fixed rate mortgage rate rose 6.71% from 6.66% last week, mortgage buyer Freddie Mac said Thursday. One…...
Fed's Waller says central bank's next rate move depends on upcoming inflation report
1+ week, 2+ day ago (427+ words) WASHINGTON – Federal Reserve governor Christopher Waller said Thursday that an inflation report next week will largely determine whether he supports an interest rate hike later this month or not. The government will release August inflation figures Sept. 11, and if that…...
Oil prices rise and stocks waver as Middle East violence flares, adding to uncertainty
1+ week, 4+ day ago (505+ words) Shares in online fast-fashion retailer Shein fell as much as 10% after they began trading in Hong Kong on Tuesday. By midday they were 5% lower. Brent crude gained 0.8% to $91.23 per barrel. It gained 2.7% on Monday after the U.S. attacked rocket launchers on…...
Warsh raises stakes for Fed's next meeting and other takeaways from Jackson Hole conference
2+ week, 3+ hour ago (955+ words) In doing so, Warsh has put more pressure on the central bank to increase interest rates when it next meets in mid-September if inflation doesn't improve. The government's next price report, to be released just days before the meeting, could…...
US economy expanded at sluggish 1.5% pace in second quarter, on par with earlier estimate
2+ week, 3+ day ago (193+ words) WASHINGTON – The U.S. economy grew at a sluggish 1.5% pace from April through June. But consumer spending stayed strong. The Commerce Department reported Wednesday that growth in gross domestic product — the nation's output of a goods and services — decelerated from a…...
Key inflation gauge remains elevated during Iran war and ongoing US trade fights
2+ week, 3+ day ago (251+ words) WASHINGTON – An inflation measure closely watched by the Federal Reserve was unchanged last month in the latest sign that many Americans are still struggling with higher costs. The Commerce Department's Wednesday report showed that prices rose 3.7% in July compared with…...