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. home sales in May fell to among the lowest levels in the past decade as both demand and supply remained sluggish in a high-mortgage rate environment.
Read More US home sales crumble in May on higher rates and record prices, says Redfin
U.S. stocks closed lower on Wednesday after an abrupt mid-afternoon nosedive ended Wall Street’s impressive rally.
Read More Wall Street tumbles to sharply lower close as abrupt sell-off snaps rally