Powell Signals More Fed Hikes If Growth Stays Strong
Federal Reserve Chair Jerome Powell warned that a robust economy and resilient consumer spending could necessitate additional rate increases to keep inflation on a path to 2 percent. He pledged to hold rates at restrictive levels until inflation moves decisively lower, noting uncertainty in the outlook and the possibility of further hikes if needed.
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Auto workers authorize strikes against Detroit car firms
In Louisville, 97 percent of UAW members voted to empower union leaders to strike Stellantis, General Motors, and Ford if talks fail. Contracts expire Sept 14. Leaders say a strike is not guaranteed and target none yet. Workers seek 40 percent pay rise, restored pensions, and joint EV battery plant gains.
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