Federal Reserve Daly Says Recent Inflation Data Good but 'Not There Yet'

Federal Reserve Bank of San Francisco President Mary Daly says some incoming inflation data has been “good” but the central bank hasn’t achieved price stability yet. She speaks in a moderated conversation in Dallas.

Bloomberg02:14 ET

Two officials of the Federal Reserve indicated that it is necessary to reform the discount window tool.

Boorman, a director of the Federal Reserve, and Logan, the president of the Dallas Federal Reserve, suggested that the Federal Reserve should assess to what extent its emergency lending tools can meet the liquidity needs of the banking system, implying the need to reform the discount window.

Zhitong Finance01:22 ET

Wall Street's 'Great Rotation Trade' Takes A Break

A weeklong decline in megacap technology stocks broadened Thursday to encompass smaller firms and financial shares as signs of economic weakness overwhelmed optimism over rate cuts.

Business Today20:21 ET

Blackstone's Private-Equity Returns Trailing the S&P 500

The S&P 500 index has been crushing private-equity returns in the past year, and Blackstone's second-quarter results illustrate that trend.

Barron's20:14 ET

Amazon Prime Day boosted online consumption index in the United States to US$14.2 billion, reaching a record high.

USA's online consumption index has surged year-on-year!

Zhitong Finance19:33 ET

Another Federal Reserve official hinted that interest rate cuts are imminent: Waiting too long to act poses a risk of recession.

Chicago Fed President Charles Evans said that the actual federal funds rate has tightened significantly and the economy is not overheating, so this restriction is not needed; the Fed may need to cut interest rates quickly to avoid further deterioration in the labor market. Dallas Fed President Robert Kaplan did not mention monetary policy, stating that the crisis triggered by Silicon Valley Bank last year shows that the current federal deposit insurance limit may be too low, and the last time the limit was raised was in 2008.

wallstreetcn19:09 ET