By Ann Saphir (Reuters) -U.S. Federal Reserve officials say that monetary policy will need to stay restrictive for “some time” to bring inflation back down to the Fed’s 2% target, but their unity around that phrase masks an ongoing debate over another possible rate hike this year. “I remain willing to support raising the federal…
Gold extended its decline for a sixth straight session on Monday to hit a near seven-month trough, as a robust dollar and prospects of higher U.S. interest rates took the shine off bullion. Spot gold was down 0.9% by 1:52 p.m. EDT (1752 GMT) at $1,831.70 per ounce, its lowest level since early March….
By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 2% on Monday to a three-week low as a higher-priced Brent contract expired, the U.S. dollar strengthened and traders took profits, concerned about rising crude supplies and pressure on demand from high interest rates. On its first day as the front-month, Brent futures for December…
WASHINGTON (Reuters) -Republican U.S. House of Representatives Speaker Kevin McCarthy faces an attempt by members of his own party to oust him because he passed a stopgap funding measure with Democratic support to avoid a government shutdown. Representative Matt Gaetz, a hardline Republican lawmaker, said he would file what’s called the “motion to vacate.” WHAT…
