Warsh's First Jackson Hole, and a Committee That Cannot Agree
The Fed chair speaks in Wyoming on August 28 with September's decision near a coin flip, and he has already told reporters the speech is a blank sheet of paper.
Section
Economy
Inflation, jobs, growth and the Federal Reserve
Treasury Doubles Its Bond Buybacks After a Brutal Week at the Long End
With the 30-year yield at its highest since 2007 and a weak 20-year auction rattling the market, the department said it would lift buyback operations from $2 billion to at least $4 billion.
Fed Minutes Show a Hawkish Majority — and a Plan to Meet Less Often
Many participants said tightening would likely be necessary if inflation did not decline, and Chair Kevin Warsh floated cutting the number of policy meetings from eight a year to six.
Shoppers Pulled Back in July as Sentiment Slid Again
Retail sales fell 0.6%, the steepest monthly drop since May 2025, and a preliminary August sentiment reading of about 51 ended a two-month improvement in how Americans feel about the economy.
The Frozen Job Market: Layoffs Are Rare, and So Are Openings
Initial claims near 209,000 describe a labor market that is not shedding workers. The near-absence of hiring describes one that no longer absorbs them either, and companies increasingly name automation as the reason.
Inflation Eases to 3.4% as Energy Prices Finally Give Ground
Consumer prices rose just 0.1% in July and the annual rate slipped to 3.4%, but energy still costs households nearly 15% more than a year ago, leaving the Federal Reserve's inflation problem intact.
Payrolls Shrink by 23,000 in July as Hiring Momentum Stalls
The first negative payroll print since early 2024 was accompanied by deep downward revisions to May and June, painting a picture of an economy that has stopped adding jobs even as layoffs stay historically low.
Economic Growth Slowed to 1.5% in the Second Quarter
The advance estimate showed the expansion downshifting from 2.1% in the first quarter, with government spending subtracting from growth and a startling jump in the price index for domestic purchases.