Weekly jobless claims fell more than expected, but the U.S. labor market slowdown, driven by higher interest rates and economic concerns, continues to worry big money managers.
Read More US weekly jobless claims fall; business spending on equipment softening
The number of Americans filing new claims for unemployment benefits increased to a three-month high last week.
Read More US weekly jobless claims at three-month high; import prices tumble
Fed’s policy rate likely to remain in 5.25%-5.50% range as US economy has defied expectations of a slowdown.
Read More Fed set to hold rates steady despite US economy’s bullish tone
Treasury Secretary Janet Yellen said Monday she did not see any signs of the U.S. economy entering a recession, citing the strong labor market, cooling inflation, and robust consumer spending as reasons for her forecast.
Read More U.S. Treasury Secretary Expresses Confidence In The Economy Despite Rising Inflation, UAW Strike