Fed Holds Rates After Close Call Minutes Hint Future Hike
Federal Reserve officials kept the benchmark rate unchanged at the Sept. 20-21 meeting calling the decision a close call. Minutes show some members favored raising rates soon if the labor market improves, with December cited as likely for a move amid tame inflation and weak wage pressures. Three regional bank chiefs dissented seeking an immediate hike.
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Janet) Yellen
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Chris Rupkey
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New York
Esther George
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Loretta Mester
Cleveland
Eric Rosengren
Amazon Music Unlimited Debuts Amid Streaming Rivalry
Amazon unveils Amazon Music Unlimited with Prime pricing at 7.99 monthly or 79 yearly and Echo users at 3.99 monthly. Non Prime members pay 9.99 monthly. Washington report notes August job openings at 5.4 million, down 7 from July, signaling slower gains but ongoing labor market spirit.
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Amazon Music Unlimited
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Court Finds Consumer Protection Bureau Structure Unconstitutional
A federal appeals court ruled the Consumer Financial Protection Bureau is unconstitutionally organized by giving the director excessive removal protections. Richard Cordray, a Democrat, has led the agency since 2011 and remains in office until 2018 unless a president changes leadership.
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Feds accuse ARC Automotive of stalling probe into fatal crash
The National Highway Traffic Safety Administration alleges ARC Automotive Inc. failed to report crash data and test results, missing deadlines in a probe linked to a fatal 2009 Hyundai Elantra incident in Canada. The inquiry, affecting up to 8 million inflators, follows prior Takata recalls and seeks cause of inflator rupture and shrapnel injuries.
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Toyota and Suzuki join hands on environment tech alliance
Toyota Motor Corp and Suzuki Motor Corp announce a joint study on environment friendly tech safety and information networking with aims to set industry standards. They will continue to compete in other areas and invite more automakers to join the partnership.
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