Zika funding fight stalls as Congress recesses
As Zika cases rise, Burwell warns budget is depleting while Congress spends summer in recess. Debates over 1.9 billion in Obama funding, Planned Parenthood politics, and GOP Democrat clashes delay action. Senate leaders urged reconvening amid mounting public health concerns and economic risks to Florida tourism.
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Fed official says one rate hike may be needed this year
Fed Chicago president Charles Evans, a slow-pace advocate, said one rate increase could be appropriate this year though he dodged timing. He signaled a preference for staying patient if inflation remains subdued, while noting Japan’s deflationary experience as a caution.
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