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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Sep 18, 2015
Page
13
Builders broke ground on fewer houses and apartments in August as housing starts fell 3 percent to a seasonally adjusted annual rate of 1.13 million homes. The Commerce Department reported the dip, while executives urged optimism about underlying market fundamentals and a continued recovery.
The Federal Reserve will hold its benchmark rate near zero amid improving U S labor markets and global slowdown risks. Officials project a single rate hike in 2015 to 0.375 percent, with slower increases thereafter, while Janet Yellen cautions patience until inflation and labor data confirm progress. Richmond Fed dissenter Jeffrey Lacker opposed the decision.
Stocks fell and mixed trading followed the Federal Reserve decision to keep rates unchanged amid concern over market volatility and global slowdown. Fed Chair Janet Yellen signaled a 2015 rate hike is possible, with projections trimmed for inflation and unemployment, as officials monitor inflation toward the 2 percent target and labor market gains.
GM agrees to a 900 million settlement with the Justice Department over a deadly ignition switch defect blamed for 120 plus deaths. The deal includes an independent monitor for three years, potential future charges against individuals, and admissions of defrauding customers while extending offers to about 1,385 more victims.
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