millan-mulraine

U.S. inflation tame as economy gains momentum

U.S. consumer prices were unchanged in July on falling gasoline costs, but solid gains in industrial output and home building suggested a pickup in economic activity that could allow the Federal Reserve to raise interest rates this year. Tuesday's mixed reports came as influential New York Fed President William Dudley said the U.S. central bank could hike rates next month, citing a tightening labor market that he said was starting to spur faster wage growth. “The strong housing starts and industrial output performance will …

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U.S. inflation tame as economy gains momentum

millan-mulraine

U.S. economy posts largest job gains in eight months in June

U.S. job growth surged in June as manufacturers and other employers boosted hiring, confirming the economy has regained speed after a first-quarter lull, but tepid wages suggested the Federal Reserve will probably not raise interest rates soon. The sign of strength in the economy, however, precedes Britain's stunning vote last month to leave the European Union. “For the Fed, this report is likely to offer some encouragement…

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U.S. economy posts largest job gains in eight months in June