Daily Market Insight
U.S. Home-Price Gains Set Another Record, Fueled by Bidding Wars
U.S. home prices once again jumped the most in more than 30 years. The S&P CoreLogic Case-Shiller index of property values nationwide surged 18.6% in June from a year earlier.
Ida's fury hits U.S. oil production, gasoline supplies
Energy companies on Monday were beginning a days-long evaluation of facilities hit by Hurricane Ida as widespread power outages and flooding onshore presented major hurdles to restarting oil and gas processing plants.
Tapering could be this year, no need a rush to raise interest rates, according to Powell
The dollar was nursing losses on Monday and kept near multi-week lows after Federal Reserve Chair Jerome Powell laid out a slower-than-expected path to rate hikes, while a storm lashing oilfields in the Gulf of Mexico lifted oil-exposed currencies.
Biden advisers weigh Powell as Fed chair, Brainard as vice chair -Bloomberg
U.S. President Joe Biden's advisers are considering recommending Jerome Powell for a second term as Federal Reserve chair with Lael Brainard as chief regulator, Bloomberg News reported on Thursday.
Fed's Quarles says supply chain imbalances boosting inflation are transitory
The supply chain imbalances and higher demand currently leading to higher inflation are transitory and the U.S. Federal Reserve has the tools to respond if inflation remains elevated for longer than anticipated, Fed Vice Chair for Supervision Randal Quarles said on Monday.
'Certainly not my intent': Biden walks back infrastructure veto remarks
U.S. President Joe Biden on Saturday withdrew his threat to veto a $1.2 trillion bipartisan infrastructure bill unless a separate Democratic spending plan also passes Congress, saying that was never his intent.
Democrats' two-step infrastructure plan draws Republican ire
Hours after President Joe Biden declared "We have a deal" to renew the infrastructure of the United States, the Senate's top Republican lashed out at plans to follow the $1.2 trillion bipartisan bill with another measure funding what Democrats call "human infrastructure.
Fed officials say 'temporary' inflation surge may last longer than thought
A period of high inflation in the United States may last longer than anticipated, two U.S. Federal Reserve officials said on Wednesday, prompting one to pull forward his views on when the central bank should start raising interest rates.
Fed will not raise rates on inflation fears alone, Powell says
Federal Reserve Chair Jerome Powell on Tuesday reaffirmed the U.S. central bank's intent to encourage a "broad and inclusive" recovery of the job market, and not to raise interest rates too quickly based only on the fear of coming inflation.
Fed's Powell sees 'sustained improvement' in economy, notable rise in inflation
The U.S. economy continues to show "sustained improvement" from the impact of the coronavirus pandemic and ongoing job market gains, but inflation has "increased notably in recent months," Jerome Powell said. In his remarks, which were released by the Fed late Monday afternoon, Powell said he regards the current jump in inflation, in fact, as likely to fade.