Economic News and Analysis
Economic News
BusinessReutersFed bank oversight powers grow more uncertain in wake of court action
A Supreme Court case upending how government regulators do their work thrusts Federal Reserve bank overseers into extended uncertainty and potential risk, although the ruling should not complicate the central bank’s ability to provide support to markets in times of stress. Experts reckon this shift opens Fed regulatory decisions to legal challenges with unpredictable outcomes, unsettling the relationship between the Fed and the institutions it oversees for years to come. Some academics fret the new landscape could also make the financial system less safe, although most agree the legal foundations that give the Fed space to provide emergency support remain on solid footing.
BusinessBloombergOil Fluctuates Near Two-Month High as Technicals Restrain Rally
(Bloomberg) -- Oil swung near a two-month high as technical indicators restrained a rally driven by tensions in the Middle East and the Atlantic hurricane season.Most Read from BloombergDemocrats Weigh Mid-July Vote to Formally Tap Biden as NomineePowerful Hurricane Beryl Aims at Jamaica After Grenada StrikeTrump Immunity Ruling Means Any Trial Before Election Unlikely‘Upflation’ Is the New Retail Trend Driving Up Prices for US ConsumersUS Yields Fall as Powell Cites Disinflation Signs: Markets
BusinessBloombergPowell Welcomes Recent Data But Fed Needs More Confidence to Cut
(Bloomberg) -- Federal Reserve Chair Jerome Powell said the latest economic data suggest inflation is getting back on a downward path, but emphasized officials need more evidence before lowering interest rates. Most Read from BloombergDemocrats Weigh Mid-July Vote to Formally Tap Biden as NomineePowerful Hurricane Beryl Aims at Jamaica After Grenada StrikeTrump Immunity Ruling Means Any Trial Before Election Unlikely‘Upflation’ Is the New Retail Trend Driving Up Prices for US ConsumersUS Yields