Rubeela Farooqi
Cooling US inflation lifts hope for smaller Fed rate hike
Slowing inflation and a cooling property sector are fueling expectations that the U.S. central bank can adopt a smaller interest rate hike this week, as policymakers assess current efforts to rein in prices.
U.S. weekly jobless claims drop below one million; labor market still weak
The expiration of a $600 weekly jobless supplement at the end of July likely contributed to the decline in claims reported by the Labor Department on Thursday. Reports from payroll scheduling and workforce management firms suggested a decline in employment in early August due to the spread of new COVID-19 cases across the United States.