Munich Re says damage inflation well above CPI rate
VW boss says European market shrinking amid tougher competition
Egyptian archaeologist calls on Berlin to return Nefertiti bust
Harris turns to her favorite foods in effort show a more private side and connect with voters
FED MEETS
On Wednesday, the Federal Reserve wraps ups its two-day policy meeting.
Few expect the U.S. central bank to lower interest rates this time around, with most experts forecasting a cut in September. The Fed began ratcheting up rates in March of 2022 in the midst of the four-decade high inflation that took root as the economy rebounded from the brief but sharp pandemic recession. Data suggest that inflation has receded in recent months and is closing in on the Fed's 2% target.
BOEING BLUES
Embattled jet maker Boeing reports its second-quarter earnings Wednesday.
Virginia-based Boeing has been mired in investigations and lawsuits since two of its Max 747s crashed in 2018 and 2019, killing 346 people. Last week, the Justice Department submitted a detailed plea agreement with Boeing in which the aerospace giant will plead guilty to a fraud charge for misleading U.S. regulators who approved the 737 Max jetliner before the crashes.
EYE ON JOBS
The government serves up its July jobs report on Friday.
America’s employers delivered another healthy month of hiring in June, highlighting the economy’s ability to withstand high interest rates. Last month’s job growth marked a pullback from May and analysts expect another dip in hiring in July. The Federal Reserve is paying close attention to the cooling labor market as it gathers data relevant to its interest rate policy decisions.
Nonfarm payrolls, monthly change, seasonally adjusted:
Feb.: 236,000
March: 310,000
April: 108,000
May: 218,000
June: 206,000
July (est.): 180,000
Source: FactSet
