Cooling price increases as inflation pace slows
U S inflation gauge tracked by the Fed shows a 0.2 percent rise from June to July, the third modest advance. Year over year inflation eased to 3.3 percent, with core inflation up 0.2 percent from June to July. Gas and food costs shift, while autos ease. Fed signals potential rate hold at September meeting.
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Washington
Federal Reserve
Fed
Commerce Department
PCE
CME
FedWatch
Chris Zaccarelli
Independent Advisor Alliance
Wall Street closes monthly decline as August ends lower
Wall Street finished August with losses as the S&P 500 fell 0.2 percent, the Dow down 0.5 percent, and the Nasdaq up 0.1 percent. Investors weigh the Fed’s likely higher-for-longer stance amid resilient economic data while bets grow that rates may pause in September.
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U.S
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Michael Antonelli
Baird
Biden asks Congress to avert a government shutdown
The Biden administration formally requests a short term funding package to avoid a shutdown on Oct 1, amid House Republican opposition. The plan seeks 1.85B for migrant handling, 1.4B for WIC, 40B for disaster and Ukraine aid, plus 128M for Pacific island economic assistance as talks continue.
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Background checks would be required for many gun sellers
The Biden administration proposes a rule to require thousands more firearms dealers to license and run background checks on buyers at gun shows and online sales. The ATF estimates 24,500 to 328,000 sellers could be affected, aiming to close loopholes and aid law enforcement. The proposal invites 90 days of public comment.
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Steve Dettelbach
Merrick Garland
Congress
Jacksonville
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Giffords Center
Peter Ambler
Kris Brown
Brady
U.S
ATF
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Christopher Rugaber
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Pantheon Macroeconomics
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