Personal income and spending, Employment Cost Index and more will provide a better idea of how the economy is performing.
the broadest measure of goods and services produced across the economy, shrank by 0.9% on an annualized basis in the three-month period from April through June, the Commerce Department said in its first reading of the data on Thursday. Refinitiv economists expected the report to show the economy had expanded by 0.5%.
Biden touted the job market, saying it "remains historically strong, with unemployment at 3.6% and more thanBiden said he met with the chairman of SK Group from Korea earlier this week, saying it is "just one of the companies investing more than $200 billion in American manufacturing since I took office, powering a historic recovery in American manufacturing."
Still, it would also mark the 15th consecutive month that inflation was above the Fed’s 2% target and could boost expectations for a third 75-basis point rate hike at the Fed’s September policy meeting. Futures currently indicate a 100% chance for a 50-basis point hike, with a 24% chance for a 75-basis point increase.
The ECI is considered the most comprehensive gauge of labor costs. Another higher-than-expected reading could add to inflation fears and put pressure on bonds and stocks.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Washington Post op-ed warns Latino voters switching to GOP is 'huge problem' for Nevada DemsWashington Post columnist Henry Olsen explained that Clark County has been stung by Democrat policies amid the COVID-19 pandemic, and its Latino voters may be shifting rightward.
Les mer »
‘It’s so blatant’: Transit groups bemoan Dems’ car-centric climate dealThe car-centric focus of the deal dismays advocates who are otherwise pleased that Democratic leaders managed to agree to a package that would amount to the United States’ biggest-ever climate law
Les mer »
Joe Manchin shifts into defense on Dems’ tax-and-spend climate billSen. Joe Manchin III came out swinging against GOP critics Thursday who accused him of going back on his word by agreeing to tax increases and spending on climate and health care, despite recession and inflation fears.
Les mer »
Dems start racing the clock — and Senate rules — to pass Manchin-blessed dealSenate Democrats are locking arms and diving into a behind-the-scenes scrub to ensure their $700 billion-plus climate, tax and health care bill complies with the chamber's strict rules for avoiding a filibuster.
Les mer »
House Dems fed up with ‘dangerous’ tactic of pushing far-right candidates: reportHouse Dems are lashing out at their own campaign arm over its guerrilla strategy of promoting far-right candidates in Republican primaries on the theory they’ll be easier to defeat in Novembe…
Les mer »
House Dems berate campaign arm over ‘very dangerous’ GOP primary schemeThe DCCC is airing ads boosting a pro-Trump Republican in a primary against an incumbent who voted for impeachment.
Les mer »