Fed Chair Jerome Powell speaks in Congress today with markets looking for the central bank to lower interest rates on July 31. Is he caving to political pressure from President Trump, or does a cut make sense now?
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Jerome Powell Has to Walk a Fine Line in Congress Today
U.S. Federal Reserve Chair Jerome Powell begins two days of testimony in Congress today. It will be closely watched with some key issues at stake. The event begins at 10 a.m. ET. Leading members of the Financial Services Committee such as Maxine Waters are likely to...
How the Federal Reserve May Signal a Rate Cut Today
Everybody's looking for the Federal Reserve to signal an interest-rate cut today. The central bank issues its policy statement at 2 p.m. ET -- one of the most important events this week. It could be even bigger than usual because Fed watchers are looking for a key...
Another Positive Week as Economy Refuses to Say ‘Die’
Stocks kept rising last week as the economy continues to defy naysayers. The S&P 500 inched up 0.5 percent between Friday, June 7, and Friday, June 14. It followed the biggest weekly gain of the year as the index consolidated in a tight range above an important...
Why Tomorrow’s Non-Farm Payrolls May Be an Anticlimax
Monthly non-farm payrolls are usually a big deal for the market, but that may not be the case tomorrow. After all, the big story now is the possibility of rate cuts by the Federal Reserve. Officials from the U.S. central bank have grown increasingly dovish, including...
Federal Reserve Joins the Global Flock of Dovish Central Bankers
Stocks just had their second-biggest rally of the year, partially because of the Federal Reserve. It's worth recapping what happened. The story actually began on Monday, when James Bullard of the St. Louis Fed said a rate cut "may be warranted soon." Then yesterday,...
Is Anything Weirder Than the Economy Right Now?
Gross domestic product (GDP) is due tomorrow. It's a good time to examine just how weird the economic situation has gotten. Things look increasingly negative from one perspective, but surprisingly positive from another vantage point. It's confounding experts, but may...
Construction Reclaiming Role in U.S. Economy, Years After Subprime Crash
Construction, left for dead after the subprime crash, may be reclaiming its importance for the U.S. economy. Today's private-sector payrolls report from ADP showed the industry adding 49,000 jobs in April. That translated into a 0.66 percent increase overall -- triple...
Podcast: How Trump’s Economy Is Lifting the Stock Market
The U.S. economy keeps silencing the naysayers. This podcast breaks down what’s happening and says what it could mean for financials, small caps and the U.S. dollar.