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"You don't want to tighten any longer than you have to," Goolsbee told National Public Radio in an interview. Goolsbee declined to say whether he would press for an interest rate cut at the Fed's coming meeting on Sept. 17-18. The Fed has held its policy rate in the current range of 5.25% to 5.50% since July 2023 after raising to that level at a breakneck pace over the prior 16 months to combat the worst outbreak of inflation since the 1980s.

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Joachim Klement of Panmure Liberum warns inflation could surge 1.2 percentage points in the first year after Trump’s tariff policies begin.

Equity Markets Rise Intraday as Consumer Sentiment Grows

(Bloomberg) -- Citigroup Inc.’s strategists have abandoned a once-popular “Trump trade.” Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Floating Island in Baltimore Raises Hope for a Waterfront RevivalA Warehouse Store Promises Housing for South LA, in BulkThe Cross-Continental Race Using Only Public TransitThe bank’s global macro strategy team on Friday recommended clients exit any remaining bets that 30-y

Unemployment in Texas rose moderately in July, suggesting that Hurricane Beryl had a minor impact on the labor market and confirming the sharp slowdown in U.S. job growth last month. The Labor Department's state employment and unemployment report on Friday showed the jobless rate in Texas, which was slammed by Beryl in the second week of July, rose to 4.1% last month from 4.0% in June. There had been speculation that Beryl was a significant factor in the small rise in nonfarm payrolls in July and surge in the national jobless rate to near a three-year high of 4.3%.