At their meeting on Wednesday, the Federal Reserve cut its benchmark interest rate by a half percentage point, satisfying investors who had been expecting a strong move given the weakening employment picture.
Read More Federal Reserve Meets, Decides To Cut Interest Rates Before 2024 Election
The Federal Reserve is expected to open the door to interest rate cuts as soon as September by acknowledging inflation has edged nearer to the U.S. central bank’s 2% target.
Read More Fed likely to hold rates steady one last time as inflation fight finale unfolds
U.S. retail sales barely rose in May, suggesting that economic activity remained lackluster in the second quarter.
Read More US retail sales rise less than expected in May
The number of Americans filing new claims for unemployment benefits unexpectedly fell last week.
Read More US weekly jobless claims unexpectedly fall; labor market gradually cooling