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 email@example.com and follow him on Twitter @liqquidity.
The Federal Reserve's decision to cut interest rates on Wednesday for the first time since 2008 was contested by two of of its own members, and many economists say it wasn't even warranted since U.S. growth is on a solid footing. The action should help stimulate the economy heading into 2020, but President Donald Trump fretted on Twitter that the move won't provide `much' help -- to himself.
Fed cuts its benchmark rate 0.25 percentage points to a 2%-2.25% range -- the first reduction since 2008. Trump calls it a let-down.
The private-equity firm says the conversion will allow investors to buy its shares without creating the need for a Schedule K-1, an Internal Revenue Service tax form that's used to report earnings from partnerships.
Private companies add a net 156,000 jobs in June, according to the payroll firm Automatic Data Processing. Economists had expected an increase of 150,000 jobs.
The Conference Board says its monthly gauge of consumers' faith in future economic prospects rises faster than expected in July.
A lot of monetary policy is guesswork, but it's become even harder in the modern era, where key data sets look inconsistent under traditional economics. The Federal Reserve is poised to cut interest rates this week to stimulate a slowing U.S. economy. President Donald Trump has called for such a move but says the central bank is incompetent.
Prices on consumer purchases, excluding food and energy, rise by 0.2% in June, leaving them up 1.4% over the past 12 months. The muted pace of inflation, which is below the Federal Reserve's 2% target, leaves room for the Fed to cut U.S. interest rates this week for the first time in more than a decade.
The fourth-biggest U.S. private-equity firm says second-quarter net income tumbles 24% to $514.4 million, as investment income slides. That's a smaller decline than the 58% drop reported for the period by KKR's larger rival, Blackstone.
Among U.S. brokerage firms, Keefe, Bruyette & Woods is a specialist in bank stocks, and the firm this week upgraded its stock recommendations on a handful of big lenders. The banks are likely to benefit as Federal Reserve interest-rate cuts help to prolong the current economic expansion, already the longest in U.S. history at more than a decade old.
U.S. gross domestic product slows to 2.1% in the three months through June from 3.1% in the first quarter. The second-quarter rate exceeded economists' average estimate for 1.8% growth.
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