The U.S. economy expanded across most regions and industries in July and August, a Federal Reserve report showed, as tighter labor markets boosted wages for some workers.
Your Money in the News
This probably doesn't help the case for a September rate hike
U.S. lenders earned a record $43 billion in profits for the second quarter -- a 7.3 percent increase from a year ago, the Federal Deposit Insurance Corp. said Wednesday.
H&R Block Inc., the biggest U.S. tax preparer, jumped the most of any company in the Standard & Poor’s 500 Index after announcing a long-awaited share repurchase plan.
Bill Gross said the Federal Reserve has waited so long to raise interest rates that any move now may be labeled “too little too late” as market turmoil restricts the room for policy makers to act.
As U.S. stocks suffered their worst month in more than three years in August, Clifford Asness’s managed futures fund was able to profit. Investors are taking notice.
Trying to time the market can backfire
European stocks posted their worst month in four years, as investors weighed Federal Reserve comments for clues on the trajectory of interest rates, while confidence waned in China’s ability to prop up the market.
Mario Draghi may have skipped the Federal Reserve’s Jackson Hole symposium this year, but he can’t dodge its conclusion: central banks can’t steer inflation as well as they thought.
Federal Reserve Vice Chairman Stanley Fischer left open the option of an interest-rate increase next month, walking a line between officials who want to delay due to market turmoil and those who say the economy is strong enough to handle a move.
Here’s the bright side for all the investors who’ve been so worried about banks using less money to facilitate trading in the $8 trillion corporate-bond market: at least Wall Street wasn’t a big seller in this latest rout.
Two regional Federal Reserve presidents who will vote on policy next year said that while they are mindful of market volatility, they consider the U.S. economy strong enough to justify raising interest rates.
Consumer confidence declined in August to a three-month low as recent stock-market turbulence weighed on Americans’ outlook for the U.S. economy in the coming year.
Consumer purchases climbed in July as incomes grew, showing the biggest part of the U.S. economy was off to a good start to the quarter.
St. Louis Federal Reserve President James Bullard said that while world financial markets are volatile, U.S. fundamentals are good and the interest rate-setting Federal Open Market Committee shouldn’t alter its forecast for the economy.
Videos: In The Money
JP Morgan Chief U.S. Economist Michael Feroli discusses the Federal Reserve’s rate hike probability with Bloomberg's Alix Steel and Scarlet Fu on "What'd You Miss?" (Source: Bloomberg)
Bespoke Investment Group co-founder Paul Hickey discusses the outlook for U.S. stocks and the state of the U.S. economy with Bloomberg's Alix Steel and Scarlet Fu on "What'd You Miss?" (Source: Bloomberg)
T3 Trading Group's Scott Redler analyzes the recent performance of stocks. He speaks with Bloomberg's Alix Steel on "Bloomberg Markets." (Source: Bloomberg)
On today's "Deep Dive," Bloomberg's Alix Steel and Scarlet Fu take a look at port traffic and global markets. They speak on "What'd You Miss?" (Source: Bloomberg)
Bill Gross said the Federal Reserve has waited so long to raise interest rates that any move now may be labeled “too little too late” as market turmoil restricts the room for policy makers to act. Bloomberg's Mary Childs has more on "Bloomberg Markets." (Source: Bloomberg)