Economy

  • The U.S. is "no longer an overheated economy" with a job market that has "cooled considerably" from its pandemic-era extremes and in many ways is back where it was before the health crisis, Fed Chair Jerome Powell said in remarks to Congress that suggested the case for interest rate cuts is becoming stronger.

    US economy no longer overheated, Fed's Powell tells Congress
    U.S. Federal Reserve Chair Jerome Powell delivers remarks during a press conference following the announcement that the Federal Reserve left interest rates unchanged, in Washington, U.S., June 12, 2024. REUTERS/Evelyn Hockstein/File Photo
  • The U.S. Federal Reserve is considering a rule change that could save the country's eight largest banks combined billions of dollars in capital, in a potential long-sought win for the industry, according to four people with knowledge of the matter.

    Exclusive: Fed may tweak rule that could save biggest US banks billions
    Businesscategory
  • Inflation "remains above" the U.S. Federal Reserve's 2% target, but has been improving in recent months and "more good data would strengthen" the case for central bank interest rate cuts, Fed Chair Jerome Powell said on Tuesday in congressional testimony.

    Fed's Powell: "More good data" will "strengthen" case for rate cut

Global elections


Europe

The biggest reservoir on the Greek island of Naxos has dried up, useful only to the turtles that cruise its muddy shallows.

Markets



The Wider Image

Unable to get married legally in Japan, same-sex couples are celebrating their special bond in a unique way.


In pictures

Tropical Storm Beryl brought howling winds and torrential rain to southeast Texas, flooding highways, closing oil ports, canceling more than 1,300 flights and knocking out power to more than 2.7 million homes and businesses.

Sports



Sponsored Content