Federal Reserve officials last week scrapped a pledge to be 'patient'' when deciding whether to cut U.S. interest rates to ward off an economic downturn. The move was seen as inching the Fed closer to a possible reduction in July. But Robert Kaplan, president of the central bank's Dallas branch, argues in a new essay that 'additional time' is needed to evaluate whether to make any changes in monetary policy.
The Fed's monetary-policy committee voted to keep the benchmark U.S. interest rate at 2.25% to 2.5%, but warned of risks to the U.S. economy and dropped a pledge to remain 'patient' on future rate cuts.
KPMG, the giant accounting firm, agrees to pay $50 million to settle Securities and Exchange Commission accusations that employees cheated on internal training exams and altered past audit work based on stolen information.
Adviser Rob Isbitts says he's getting the sense that the markets are less patient now than earlier this year. Sometimes in investing, they ring the proverbial bell and the sellers pile on.
This is why rates rose the day the Fed made such strongly dovish comments, and how you should manage your fixed income portfolio in response.
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 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.
The Federal Reserve releases minutes from a closed-door two-day meeting that monetary-policy officials held in Washington on April 30 and May 1. The discussion preceded their decision to hold official U.S. interest rates steady in their current range of 2.25% to 2.5%.
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