Jul 11 Cooling inflation may pave way for interest rate cut soon By Christopher Rugaber, Associated Press Inflation in the United States cooled in June for a third straight month, a sign that the worst price spike in four decades is steadily fading and may soon usher in interest rate cuts by the Federal Reserve. Continue reading
Jul 10 Federal regulators fine Citigroup $136 million for taking too long to fix internal control issues By Ken Sweet, Associated Press The fines come from the Federal Reserve and the Office of the Comptroller of the Currency, which said in separate releases that Citigroup had failed to meet its obligations stemming from a 2020 consent order related to the bank's risk… Continue reading
Jul 05 U.S. employers add 206,000 jobs in June, sign of economic stability despite interest rates By Paul Wiseman, Associated Press Friday's report from the Labor Department also showed that the unemployment rate ticked up from 4% to a still-low 4.1%. And the department sharply revised down its estimate of job growth for April and May by a combined 111,000. Continue reading
Jul 03 As slowing economy boosts hopes for lower interest rates, Wall Street keeps hitting new records By Stan Choe, Associated Press The S&P 500 rose 0.5 percent to set an all-time high for a second straight day and for the 33rd time this year. Continue reading
Jul 03 U.S. continuing jobless claims rise for 9th straight week, though unemployment stays historically low By Matt Ott, Associated Press Analysts say that continuing claims rise because many of those who are already unemployed may now be having a harder time finding new work. Continue reading
Jul 02 U.S. inflation slowing again, but Fed Chair Powell warns it isn’t yet time to cut rates By Christopher Rugaber, Associated Press Speaking in a panel discussion at a monetary policy conference in Sintra, Portugal, Powell said Fed officials still want to see annual price growth slow further toward their 2% target before they would feel confident of having fully defeated high… Continue reading
Jun 30 Surprise mechanics’ strike causes Canadian airline WestJet to cancel more than 400 flights By Associated Press Canada's second largest airline, WestJet, said it canceled 407 flights affecting 49,000 passengers after the maintenance workers union announced it went on strike. Continue reading
Jun 27 Supreme Court to allow, for now, emergency abortions in Idaho By Associated Press The Supreme Court has cleared the way for Idaho hospitals to provide emergency abortions for now in a procedural ruling that leaves key questions unanswered. Continue reading
Jun 27 Supreme Court strips Securities and Exchange Commission of key enforcement tool By Mark Sherman, Associated Press The justices ruled in a 6-3 vote that people accused of fraud by the SEC, which regulates securities markets, have the right to a jury trial in federal court. The decision could have far-reaching effects on other regulatory agencies. Continue reading
Jun 24 ‘Supply crunch has led to an affordability crunch.’ Yellen announces efforts to help with increased housing costs By Fatima Hussein, Associated Press The Biden administration announced new steps to increase access to affordable housing as still-high prices on groceries and other necessities and high interest rates have dramatically pushed up the cost of living in the post-pandemic years. Continue reading