Economic news

New research from the Federal Reserve Banks of New York and San Francisco says markets put the odds of zero interest rates lower today than in the recent past, but economic uncertainty raises the potential for drastic cuts in the "medium to long term."

A pair of surveys released in June indicates that small-business owners have growing confidence, while startup activity and SBA lending are demonstrating continued strength.

The Bureau of Labor Statistics issued its unemployment report for June, showing that the economy added 147,000 jobs. The report supports the Federal Reserve's patience to cut interest rates.

The president and his allies have stepped up their verbal attacks on the Federal Reserve and its chairman in recent weeks, and while the tough talk has not changed policy, it has sent a clear message to the financial sector.

In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.

Federal Reserve Chair Jerome Powell was noncommittal about cutting interest rates at the central bank's next monetary policy meeting in July, saying future actions will depend on incoming data. His comments come as President Trump ramps up his criticism of the Fed chair.

The Federal Reserve's preferred measure of inflation moved further from its 2% target, underscoring the central bank's reluctance to cut rates.

Consumer spending and exports fell slightly in the latest estimate, leading to a downward revision. Imports, which dragged down overall output during the first three months of the year, also came in smaller.

Federal Reserve Chair Jerome Powell testified in the House Tuesday on the heels of yet another pointed social media post from President Donald Trump. But House Republicans largely avoided landing political blows against the central bank chair.

The Federal Reserve chair appears before the House Financial Services Committee for his first of two days of testimony on Capitol Hill this week, part of his biannual monetary policy report to Congress.

Financial markets were shaken but not stirred this past spring, according to the Federal Reserve, as swinging stock prices and bond yields did little to bring down elevated asset prices or leverage. 

Buy now/pay later provider Sezzle has filed a lawsuit against Shopify, alleging that the e-commerce giant engaged in antitrust practices by making it difficult for merchants to integrate Sezzle's BNPL offering into their websites.

Paula Comings, the head of currency sales for U.S. Bancorp, said American importers are hearing from their foreign counterparties that they no longer want to be paid in U.S. currency.

The government measure of inflation for May ticked up modestly, adding to the signals that the Federal Reserve is unlikely to move on interest rates when it meets next month.

The U.S. economy added 139,000 jobs, a healthy clip that counters the president's calls for a rate cut to bolster the labor market.

The Federal Reserve Board governor said higher import tariffs could have a "persistent" impact on inflation.

Fischer, who served on the central bank boards of both Israel and the United States and served as the Federal Reserve vice chair from 2014 until 2017, died Saturday at age 81.

Federal Reserve Gov. Christopher Waller said changes to the Federal Open Market Committee's quarterly economic projections could lead to clearer communication with markets and market participants.

The Federal Reserve's preferred measure of inflation moved closer to the 2% target last month, but the impact of tariffs remains to be seen.

The Federal Reserve chair said he made no commitments on the central bank's next monetary policy adjustment, only that the decision would be made based on incoming data.