Fed's Powell Plays Down Inflation Threat

Federal Reserve Chairman Jerome Powell told lawmakers that it's "very, very unlikely" that inflation will rise to levels seen in the 1970s, while acknowledging uncertainty as the economy reopens. 


 
Nasdaq Hits Record as Stocks Push Higher

Shares of consumer discretionary companies led the advance ahead of Federal Reserve Chairman Powell's testimony. 


 
Earnings Bonanza Could Dwarf Fed Worries

A better economy might deliver earlier Federal Reserve tightening, but first it will deliver stronger corporate profits. 


 
Infrastructure Talks Focus on How to Pay for Bipartisan Package

The members of the bipartisan negotiating group are discussing ways to pay for it that avoid raising more revenue from the gas tax or fees on electric vehicles, ideas opposed by the White House. 


 
Delta Variant Threatens to Set Back Europe's Recovery

The Delta variant of the coronavirus is making inroads around the world, including in the U.S., where public-health experts expect it to soon become the dominant strain. 


 
Delta Covid-19 Variant Could Be Dominant in U.S. in Two to Three Weeks, Study Says

The Delta strain, which first emerged in India in late 2020, will probably make up 50% of Covid-19 infections in the U.S. by early to mid-July, an author of the analysis says. 


 
U.S. Existing-Home Prices Hit Record High in May

A sharp increase in existing-home prices kept more buyers on the sidelines, contributing to the fourth straight month of declining sales of previously owned homes. 


 
Warehouse Rents Surge on Bidding Wars for Scarce Space

Competition is driving up industrial rents as retailers and logistics providers race to move goods closer to population centers, with some engaging in bidding wars for the most coveted sites. 


 
Nonbank Lenders Are Dominating the Mortgage Market

The lenders, which don't take deposits or offer other banking services, issued more than two-thirds of all mortgages originated in 2020, their highest market share on record. 


 
Covid-19 Worsens Troubles in an Investor Visa Program

Fraud plagues EB-5 applicants who are seeking permanent U.S. residency through real-estate investments, and the pandemic is hurting revenues at their development projects.

(END) Dow Jones Newswires

06-22-21 2115ET