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Fed Should Focus on How Economy Affects Different Groups, Brainard Says

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Fed officials need to look at how different demographic groups are faring in the labor market as they make monetary policy decisions, Fed governor Lael Brainard said.

President Trump is releasing his fiscal 2018 budget on Tuesday, the beginning of what could be a challenging, lengthy battle in Congress.

One-Month Libor Hits 8-Year High

The cost of one-month U.S. dollar loans between banks has risen to its highest level in more than eight years, reflecting an increasing conviction among traders that the Federal Reserve will raise short-term interest rates at its policy meeting next month.

Bundesbank Head Says ECB Needs to Be Ready to Rein In Stimulus

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The European Central Bank shouldn't wait too long before withdrawing its large monetary stimulus, German central-bank president Jens Weidmann warned on Monday, wading into a debate over how quickly the ECB should signal a policy shift.

Fed's Kaplan Continues to See Two More Rate Rises This Year

Dallas Fed President Robert Kaplan said in an essay he is still on board with the U.S. central bank raising short-term interest rates around two more times this year.

U.S. Stocks Log Third Straight Session of Gains

A rally in technology and industrial shares lifted U.S. stocks, boosting major indexes to a third consecutive session of gains. The S&P 500 climbed 0.5%.

Iraq, Saudi Arabia in Last-Minute Summit to Salvage OPEC Cuts Extension

Iraq has become a potential obstacle to OPEC's efforts to continue cutting output into next year, representatives of the cartel said, prompting Saudi Arabia's energy minister to fly to Baghdad for meetings.

Oil Hits Highest Level in More Than a Month Ahead of OPEC Meeting

Oil prices rose to a fresh one-month high Monday with traders expecting this week's OPEC meeting to end with an extension or even deepening of the group's recent production cuts.

OPEC's Foil: It Can't Drain Enough Stored Oil

OPEC is likely to extend and perhaps even deepen its production cuts on Thursday for one main reason: It has failed to drain superhigh levels of oil in storage enough to raise prices significantly.

Federal Reserve Senior Staffer Timothy Clark to Retire

Timothy Clark, a senior Federal Reserve staffer in charge of banking supervision, is retiring in the latest personnel change at the bank regulator.

(END) Dow Jones Newswires

May 22, 2017 21:15 ET (01:15 GMT)