The prospect of more interest-rate increases in the absence of rising inflation, based on the Federal Reserve’s latest forecast, strikes some as unnecessarily risky for the economy. But for good or ill, the central bank remains on track to lift rates further and the Treasury market (still) expects no less after the 25-basis-point increase from earlier in the week that pushed the Fed funds target rate to a 2.0%-2.25% range, the highest in more than a decade.
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Senate committee may vote on Kavanaugh today: Politico
American Bar Assoc. recommends delaying Kavanaugh vote: CNN
Italy defies EU by raising deficit target: Bloomberg
Israeli PM describes secret Iranian nuclear site: Reuters
WTO cuts global trade forecast, warning trade war threatens growth: Bloomberg
Pending Homes Sales Index falls for eighth month: HousingWire
Fed Chairman Powell: US not facing high odds of recession in next 2 years: Reuters
Wholesale inventories revised down for July: CNBC
KC Fed Mfg Index ticked lower in Sep, but still showing “solid” gain: KC Fed
Jobless claims in US rise more than expected: CNBC
US merchandise trade deficit widened to biggest gap in 6-months: Bloomberg
Revised Q2 US GDP growth: 4.2%, unchange from previous estimate: MW
US durable goods orders accelerate to 11.8% y-o-y, highest in over a year: