Bradley Keoun covers markets and finance for TheStreet.
A former reporter and editor for Bloomberg News in New York and Mexico City, he covered the financial crisis of 2008 and has written about U.S. banks, the energy industry and emerging markets.
Keoun, who previously worked for the Gainesville (Fla.) Sun and Chicago Tribune, has a master's in journalism from the University of Florida and a bachelor's in electrical engineering from Duke University. You can reach him at firstname.lastname@example.org and follow him on Twitter @liqquidity.
Wells Fargo might end up selecting its interim CEO, the longtime Wall Street lawyer Allen Parker, to stay in the role - after announcing barely two months ago that it would look for fresh candidates following a series of costly and ignominious scandals.
A report Friday from the Labor Department is expected to show that the U.S. economy added about 185,000 jobs in May - a slowdown from April's increase of 263,000 but still respectably ahead of the 100,000 needed each month to keep pace with the working population.
Private companies add a net 27,000 jobs in May, the least in nearly a decade, according to the payroll firm Automatic Data Processing. Economists had expected an increase of 185,000 jobs.
Top Federal Reserve officials are as confounded as anyone by the current U.S. inflation rate, which has remained stubbornly below the central bank's target of 2% despite a strong labor market. Unsure how to proceed, officials led by Chair Jerome Powell have invited top economists to weigh in at a two-day conference this week in Chicago.
The Financial Stability Oversight Council, a panel of top U.S. regulators charged with preventing future financial crises, met Thursday to discuss the past decade's surge in corporate borrowing, much of it by companies with junk-grade credit rating. An economic downturn likely would bring a wave of credit-rating downgrades and debt defaults that could ripple across markets.
Prices on consumer purchases, excluding food and energy, rose by 0.25% in April, the most since October 2017, a report from the Commerce Department's Bureau of Economic Analysis shows. The Federal Reserve monitors this price index on 'core' consumer purchases when setting benchmark U.S. interest rates.
The Commerce Department's second preliminary estimate of the U.S. economy's growth rate is slightly lower than initially reported.
Auto-dealer inventories, especially for light trucks and SUVs, are so high in historical terms that they're likely to provide a drag on the U.S. economy this year, Bank of America economists warn in a new report. Vehicle manufacturers like Ford and GM may have have to slow down their assembly lines.
The Conference Board says its monthly gauge of consumers' faith in future economic prospects rises faster than expected in May, at least partly thanks to a U.S. unemployment rate at a half-century low.
An announcement on job cuts comes just days after legendary corporate raider Nelson Peltz and his investment firm, Trian Fund Management, won two seats on Legg Mason's board of directors.
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