Inflation fears and politics shape views on Biden economy
AP NORC poll shows inflation shaping opinions as Americans rate the economy 45 percent good and 54 percent poor. Voters’ views split along party lines with 59 percent approving Biden overall. 60 percent of Democrats see the economy as good while about 10 percent of Republicans share that view.
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Fed mulls tapering as inflation tests policy patience
The Federal Reserve, divided over timing, weighs slowing its 120 billion dollar monthly bond purchases amid 5.4 percent inflation in June. Powell seeks a delicate path to keep rates near zero while the job market heals, with regional presidents urging sooner tapering.
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Wall Street ends higher as markets reach record highs
U.S. stocks climbed to record territory with the S&P 500 up 0.2 percent and major indexes led by gains in consumer, energy, and financial sectors. The Nasdaq rose slightly while health care and tech weighed. Bond yields mostly higher amid mixed data. New home sales fell 6.6 percent in June to 676,000 annual pace, with prices cooling from May. BioNTech aims to use mRNA tech to develop a malaria vaccine with trials planned by year end.
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