A monthly survey from the University of Michigan shows that consumer confidence improved faster than expected last month, even as a separate Federal Reserve report shows that manufacturers are mired in a slowdown.
The Federal Reserve, led by Chairman Jerome Powell, is widely expected to leave interest rates unchanged at its meeting next week.
New home sales in the U.S. totaled 607,000 in January, down from 652,000 in December, the Census Bureau reports. The drop was steeper than projected by economists, who had estimated January sales at 620,000.
Look no further than Europe for why the Fed has make this shift.
The Census Bureau reports that new orders for manufactured durable goods orders outside of the transportation industry fell by 0.1% in January. Economists were calling for a 0.2% increase.
Bcause, a startup vying to open a new cryptocurrency-derivatives exchange alongside a mining facility for the digital coins, chooses Nasdaq to provide technology for matching trades, clearing and market surveillance.
President Donald Trump's oft-repeated criticisms of Federal Reserve interest-rate hikes have been labeled by some economists as an assault on the central bank's independence. But Joe Lavorgna, chief Americas economist for the French bank Natixis, says that at least one measure of effective interest rates shows that the Fed's recent efforts may have exceeded the mid-2000s cycle of monetary tightening that helped to trigger the 2008 financial crisis.
Wells Fargo CEO Tim Sloan appeared Tuesday before the U.S. House of Representatives' Financial Services Committee for the first time since Democrats, who are typically more critical of big banks than Republicans, took control of the chamber in last November's elections. The panel's leader, Congresswoman Maxine Waters of Southern California, scolded Sloan, but so did Republicans on the committee.
Consumer prices rise 0.2% in February, leaving them up 1.5% over the past year. That figure falls short of economists' average estimate for a 1.6% price increase over the past 12 months.
Wells Fargo CEO Tim Sloan is scheduled to appear Tuesday before the U.S. House of Representatives' Financial Services Committee for the first time since Democrats, who are typically more critical of big banks than Republicans, took control of the chamber in last November's elections. The panel is led by Congresswoman Maxine Waters of Southern California, where some of Wells Fargo's recent scandals originated.
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