Yellen: Premature to Conclude Inflation Trend Is Falling Well Short of Target
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Fed Chairwoman Janet Yellen said in her second day of testimony on Capitol Hill that a stronger labor market and rising prices of imported goods supported her expectation that a recent downturn in inflation would prove transitory.
Stocks Climb, Driven by Tech Sector
U.S. stock indexes edged higher, buoyed by gains in shares of technology companies. The Dow industrials rose 0.1% after climbing to a record the previous session.
U.S Runs $90 Billion Budget Deficit in June
The U.S. ran a budget deficit in June amid higher government spending and steady revenues. Government spending exceeded revenues by $90 billion last month, the Treasury Department said.
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Trump Budget Wouldn't Balance in 10 Years, CBO Says
The Congressional Budget Office estimates President Trump's budget proposal would shrink deficits by nearly a third over the coming decade, but not nearly as much as the White House projects.
ECB's Draghi to Speak at Jackson Hole, Giving Chance to Signal Shift
Mario Draghi's address at the Federal Reserve's Jackson Hole conference is expected to give a further sign of the ECB's growing confidence in the eurozone economy and its reduced dependence on monetary stimulus.
Economists See Fed Balance Sheet Shrinking in September
Most economists polled by The Wall Street Journal expect the Federal Reserve will start shrinking its $4.5 trillion holdings of bonds and other assets in September, and next raise short-term interest rates in December.
Forecasters Lower Economic Outlook Amid Congressional Gridlock
Early optimism that President Donald Trump would be able to revitalize the U.S. economy is fading as Congress struggles to pass major legislation, The Wall Street Journal's monthly survey of economists finds.
Fed Official Says More Inflation Likely Needed Before Another Rate Rise
Federal Reserve Bank of Dallas President Robert Kaplan indicated he is likely to need to see higher inflation before supporting another interest rate rise.
U.S. Producer Prices Rose Slightly in June
A gauge of U.S. business prices ticked up in June, another signal of moderating inflation pressures.
U.S. Jobless Claims Fell by 3,000 to 247,000
The number of Americans applying for unemployment benefits fell for the first time in a month, bolstering the Federal Reserve's view that the labor market is firming.
(END) Dow Jones Newswires
July 13, 2017 15:15 ET (19:15 GMT)