Sales increased 0.7% in July, "a reassuring sign for a U.S. economy that’s facing mounting hurdles."
The July inflation readings reduce "the chances that the U.S. central bank would cut rates by half a percentage point" in September.
The central bank will develop the FedNow service itself rather than defer to the private sector.
The housing market continues to struggle despite lower mortgage rates.
The tepid gain in the PPE points to “relatively subdued inflation, as most of the increase was driven by volatile categories of goods and services.”
The pick-up in underlying inflation in June "argues against aggressive monetary stimulus from the central bank," an economist says.
In Powell’s testimony to Congress, he said ‘crosscurrents’ have been weighing on economic activity and the central bank will ‘act as appropriate.’
The new nominations come after Trump’s previous nominees, Stephen Moore and Herman Cain, both withdrew from consideration.
The "real" economy won't benefit much from a rate reduction, but the Federal Open Market Committee may have other things on its mind.
Deceleration in consumer spending is expected to curb the increase and keep interest rates unchanged.
A Fed survey finds banks were encouraged to ease terms on C&I loans by "a more favorable or less uncertain economic outlook."
A second straight month of strong U.S. job growth is "further evidence that February’s paltry 56,000 increase in jobs was an aberration."
