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Wholesale inflation increased much more than expected in July, raising concerns about a resurgence of inflationary pressures in the economy. The Bureau of Labor Statistics on Thursday released the producer price index (PPI) for the month of July, which showed an increase of 0.9% from the prior month and 3.3% from a year ago. Those PPI figures were much hotter than the forecast of prices rising 0.2% on a monthly basis and 2.5% […]

Treasury Secretary Scott Bessent on Thursday outlined the qualities he is seeking as he vets candidates from President Donald Trump's shortlist to lead the nation's central bank."I want to see people who are forward-looking, not backward-looking on regulation," Bessent said in an interview on FOX Business’ "Mornings with Maria," adding that "since the great financial crisis, we've been in a regulatory straitjacket for the banking system."TRUMP SAYS FED CHAIR SEARCH […]

Treasury Secretary Scott Bessent says he isn't in the business of giving the Fed marching orders, but his view that a neutral interest rate would be 150 basis points below the current level has fueled speculation over how soon and how far rates could be cut."I didn't tell the Fed what to do. What I said was that to get to a neutral rate on interest, that would be an […]