New York Fed Says Williams Wasn't Sending Specific Policy Signal in Speech
New York Fed President John Williams didn't intend to suggest Thursday that the central bank might make a large interest rate cut this month, a spokesman said.
Global Easing Cycle Gains Momentum as Central Banks Cut Rates
Central banks in Asia and South Africa lowered their interest rates, joining a global easing bandwagon that started earlier this year in the Asia-Pacific region and is expected to include the U.S. and Europe within weeks.
U.S. Stocks Turn Positive After Fed Comments
U.S. stocks broke into positive territory late Thursday after a Federal Reserve official urged central banks to lower interest rates swiftly on signs of economic weakening.
Senators Introduce Bill Restricting Huawei From Buying, Selling U.S. Patents
Republican senators introduced legislation aimed at blocking Huawei from buying or selling U.S. patents in the latest action by Washington targeting the Chinese telecom giant.
Nickel Prices Reach One-Year Highs
Nickel prices rose to a one-year high, boosted by constricting supply and bullish speculators.
July Data Throw Size of Expected Fed Rate Cut Into Doubt
Investors have gone from debating whether the Federal Reserve will lower interest rates to grappling over how big the cut will be.
Trump Administration, Congress Have Agreed on 'Top-Line' Spending Levels, Mnuchin Says
Treasury Secretary Steve Mnuchin said Congress and the Trump administration have agreed on overall spending levels and raising the U.S. government's borrowing limit for two years.
Trump Says U.S. Ship Downed Iranian Drone
President Trump said a U.S. Navy ship downed an Iranian drone in the Strait of Hormuz, hours after Iranian forces said they had seized a foreign tanker, the latest in a series of incidents that have heightened tensions in the region.
China's Infrastructure Surge Isn't Built to Last
Chinese infrastructure growth revived in June thanks to a surge in local government bond issuance, but the bounce doesn't look sustainable.
G-7 Finance Chiefs Narrow Divisions on Digital Tax Plan
Finance officials from some of the world's largest economies took a step toward an agreement on how to divide up multinational companies' profits, narrowing differences over U.S. and French approaches to taxing digital firms and pledging to outline their plan by January.