Economic news

Many traders took the Federal Reserve chair's tough talk on inflation as a signal that the central bank is poised for a rate hike, but the corresponding dip in long-dated bonds proved short-lived.

Federal Reserve Chair Kevin Warsh reiterated his stance against offering markets forward guidance on interest rate moves and expressed concern about inflation in the first Jackson Hole speech of his tenure.

Federal Reserve Chair Kevin Warsh is slated to deliver the keynote speech at the Jackson Hole Economic Symposium Friday morning, and markets will be listening for assurances on inflation, the balance sheet and Treasury market turmoil. 

The Bureau of Economic Analysis reported that the personal consumption expenditures, or PCE, price index rose 3.7% from a year earlier, indicating that inflation remains above the Federal Reserve's target.

Most Americans are seeing their expenses go up, and lots of them are changing their spending habits as a result, which is sapping the economy's momentum.

Treasury Secretary Scott Bessent said in an interview on CNBC Thursday that he and Office of Management and Budget Director Russell Vought have been tasked with developing a fiscal plan to reduce government spending.

So far, annual home lending growth is on track to slow, but not stop, with some positive developments surfacing amid broader challenges.

Retail sales fell 0.6% in July despite a World Cup bump and the University of Michigan's consumer sentiment index declined to cap off a pivotal week of economic indicators.

The consumer price index ticked up last month, bolstering arguments about broad-based inflation and raising the odds of a rate hike next month.

After nearly two decades of positive correlation, the relationship between equities prices and bond yields has turned negative, the analysis finds, revealing a tricky dynamic for monetary policy.

One of three Federal Open Market Committee members to vote for a higher federal funds rate last month, the Cleveland Fed president is undeterred by the labor force decline in July.

Jeffrey Cleveland, Managing Director and Chief Economist at Payden & Rygel, will discuss the FOMC meeting, the new SEP and Chair Warsh's press conference.

Near-term expectations for price growth fell in the latest consumer sentiment survey from the Federal Reserve Bank of New York, but remains above the central bank's target across all time horizons.

The latest consumer conditions study from the American Financial Services Association paints a less-than-rosy picture of how lenders expect the second half of the year to play out.

The Federal Reserve governor said inflation is too high but said she ultimately voted last week to hold interest rates steady to give recent economic trends more time to play out.

Congress has little time to move on the CLARITY Act before it breaks for recess. But even that bill won't ensure the future for stablecoins.

Bond yields rose after Federal Reserve Chair Kevin Warsh's second press conference last week, and bankers may have to accept higher rates as the price of a more parsimonious Fed.

The investment is expected to bring a 40% increase to Chase Home Lending's mortgage capacity, with the addition of 850 new advisors, the company said.

At a time of rapidly rising prices, a number of credit-card companies are offering perks for buying gas, groceries and other basic necessities. The cards represent an opportunity for issuers, but also potential pitfalls.

Federal Reserve Chair Kevin Warsh acknowledged that his limited guidance might have been a factor in rising market rates, but said whatever increased volatility can be attributed to the changes is more than offset by the benefit of a more nimble central bank.