Fed Chair Yellen signals December rate hike likely
Fed Chair Janet Yellen told Congress that the central bank remains on track to raise rates at the December meeting. She defended independence and bank reforms, said she plans to stay through 2018, and argued the economy is advancing toward Fed goals despite market uncertainty after Trump's election.
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Jobless claims hit 43 year low in November week
The Labor Department reported 235000 initial unemployment claims for the week ended November 12, the fewest since 1973, with continuing claims at 1.98 million. The figures, excluding Veterans Day distortions, point to a tighter labor market amid a modest expansion and limited available experienced workers.
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Inflation Near Fed Goal as CPI Edges Up in October
U S consumer price index rose 0.4 percent in October from September with a 0.1 percent core gain, led by higher fuel and housing costs. Strong job gains and ongoing inflation pressure set the stage for a December rate hike, as Fed officials weigh data and guidance from Chair Janet Yellen.
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Ohio solar panel maker cuts 450 jobs near Toledo
First Solar Inc will cut 450 jobs at its Toledo area factory and 1,600 globally as it retunes to produce a thinner, higher wattage solar panel. The Perrysburg Township plant employs about 1,400, with 200 kept on Series 4 during the shift. The company may shift some production to Vietnam while Ohio remains its innovation hub.
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