News

Kugler said she supported the Fed's decision last month to hold short-term borrowing costs in their current 4.25%-4.50% range, a level she feels exerts moderate restraint on the economy. "I see this as appropriate, given that the downward risks to employment have diminished but upside risks to inflation remain," Kugler said in remarks prepared for delivery at Georgetown University. "The potential net effect of new economic policies also remains highly uncertain and will depend on the breadth, duration, reactions to, and, importantly, specifics of the measures adopted."

(Bloomberg) -- Oil extended a string of marginal gains to settle above $72 a barrel amid uncertainty over global supplies and a slumping dollar that made commodities priced in the currency more attractive.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsTrump Targets $128 Billion California High-Speed Rail ProjectChild Migrant Watchdog Gutted in

WASHINGTON (Reuters) -The Federal Reserve's top regulatory official cautioned Thursday against a weakening of bank rules and oversight that could make firms vulnerable to surprise shocks. Fed Vice Chair for Supervision Michael Barr, who is stepping down from the regulatory post at the end of February, cautioned against any push to significantly weaken existing bank rules and supervision, and urged watchdogs to complete international capital standards. In what is expected to be his final speech as the Fed's rules chief, Barr maintained that strong rules and robust capital requirements for banks are needed to guard against unforseen shocks.

(Bloomberg) -- Federal Reserve Bank of St. Louis President Alberto Musalem said policy should remain “modestly restrictive” until it’s clear inflation is on track to the central bank’s 2% target, and that he sees increased risks that progress may stall or even reverse. Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsTrump Targets $128 Billion C

Higher egg prices, an issue U.S. President Donald Trump spoke about often during his election campaign last fall, boosted Walmart grocery revenue, the world's largest retailer said during its earnings briefing on Thursday. Walmart said its grocery revenue rose by mid-single digits in the quarter through January 31, and a Walmart earnings presentation showed that egg-price inflation was baked into that increase. Egg prices have been rising as bird flu, or avian influenza, has hammered egg production in chickens.

Oil transportation and storage company Sentinel Midstream expects to make a final investment decision on its deepwater oil export project off the Texas coast as soon as it receives a U.S. government license, CEO Jeff Ballard told Reuters. The move comes as U.S. President Donald Trump pushes for faster approvals of projects that will help bolster the U.S. energy industry, including fossil fuel production. As part of that push, Sentinel's Texas GulfLink project was issued a record of decision, a major step in the permitting process, on Friday by the Trump administration.

Last week, the Labor Department reported a larger-than-expected 0.5% month-over-month increase in CPI for January. The comparable Personal Consumption Expenditures Price Index the Fed uses for its 2% inflation target is due to be released next week, and most economists estimate it will show less of an increase than reflected in the CPI. "The CPI number was not great," Goolsbee said at a Chamber of Commerce event in Chicago.