By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of New York President John Williams said Friday the central bank may be done with rate rises as inflation pressures, while still elevated, are moving back toward the official 2% target. “My current assessment is that we are at,…

Construction spending rose in August, as companies and the government ramped up projects across the U.S. Spending on construction projects rose 0.5% in August to $1.98 trillion, the Commerce Department reported Monday.  The figure fell short of expectations on Wall Street. Economists were expecting construction spending to rise 0.6% in…

By David Lawder WASHINGTON (Reuters) -A government shutdown that could start this weekend would “undermine” U.S. economic progress by idling key programs for small businesses and children, and could delay major infrastructure improvements, U.S. Treasury Secretary Janet Yellen said on Friday. Yellen said in remarks at the Port of Savannah…

Story developing. Stay tuned for updates here. The numbers: A barometer of business conditions at American factories contracted in September for the 11th month in a row, but there were signs of improvement and many companies even added workers. The Institute for Supply Management’s manufacturing survey rose to 49.0% last month…

The Wall Street rally that persisted for the first seven months of 2023 has taken a hit in August and September, with market participants expressing significant concerns over the Federal Reserve’s (Fed) warning of another 25 basis point rate hike by year-end. This concern is further amplified by the Fed’s…

The U.K.’s chancellor of the exchequer, Jeremy Hunt, on Monday outlined plans to lift Britain’s minimum wage.  In a speech to the Conservative Party conference in Manchester, Britain’s treasury minister said the country is planning to increase minimum hourly pay to at least £11 ($13.37) from current rates of £10.42.…

By Nelson Bocanegra BOGOTA (Reuters) – Colombia’s inflation likely slowed in September due to a moderation of domestic consumption, a Reuters poll revealed on Friday, though forecasts for the year rose due a spike in energy prices amid the impact of the El Nino weather phenomenon. According to the median…

BRASILIA (Reuters) – Brazil’s central bank chief Roberto Campos Neto said on Friday that inflation expectations are not aligned with official goals, and signaled they may not be anchored if the government’s fiscal targets do not converge. Speaking at an event hosted by asset manager 1618 Investimentos, he referred to…

John C. Williams, president of the Federal Reserve Bank of New York, stated on Friday that the Fed is near or at the peak level of the target range for the federal funds rate, though he anticipates maintaining a restrictive monetary policy stance for some time. This stance is intended…

The Federal Reserve’s preferred measure of inflation, the core personal consumption expenditures (PCE) price index, rose at its slowest monthly pace since late 2020, according to a Bureau of Economic Analysis report released on Friday. The data supports the Federal Reserve’s decision to forgo an interest rate hike at their…