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The latest news and analysis about the health of the US economy.

Feds approve scaled-down Idaho wind farm near historic Japanese American incarceration site

The federal government on Friday approved a scaled-down wind farm in Idaho over local opposition, including from groups concerned about its proximity to a historic site where Japanese Americans were incarcerated during World War II. The Bureau of Land Management signed off on a final plan for the Lava Ridge Wind Project northeast of Twin Falls that decreases the number of wind turbines to 241 from 400 and imposes a maximum height of 660 feet (201 meters).

Associated Press Finance 4 hours ago

Boeing’s $243M plea deal rejected by federal judge

Boeing’s plea deal regarding criminal fraud conspiracy charges over two fatal 737 MAX accidents has been rejected by a federal judge. The post Boeing’s $243M plea deal rejected by federal judge appeared first on FreightWaves.

Federal court upholds ban on TikTok in the US

A federal court upholds an order requiring China-based ByteDance to sell TikTok or face ban in the US. The post Federal court upholds ban on TikTok in the US appeared first on FreightWaves.

Traders Ramp Up Bets on December Fed Cut After Mixed Jobs Data

(Bloomberg) -- US Treasuries rallied and traders boosted their bets on a Federal Reserve interest-rate reduction this month after a mixed November employment report.Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitAs Wars Rage, Cities Face a Dark New Era of Urban DestructionYields on two-year notes, which are sensitive to central-bank policy changes, slid as much as seven basis points to aroun

Oil Falls to Three-Week Low With Algos Poised for More Selling

(Bloomberg) -- Oil slid to a three-week low, closing near $67 a barrel, after a wave of technical selling compounded oversupply fears. Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitAs Wars Rage, Cities Face a Dark New Era of Urban DestructionA decision by OPEC and its allies to return output at a slower pace than initially planned capped losses Friday, but a looming supply glut continued to

Inflation report poses test for stocks rally as Fed meeting looms

An inflation report in the coming week will test the strength of the record-setting U.S. stocks rally and provide a crucial piece of data that could factor into the Federal Reserve's plans for rate cuts. The rosy backdrop for stocks is underscored by expectations of further Fed interest rate cuts at the same time the economy remains resilient. However, data on consumer prices due on Wednesday could threaten the upbeat narrative if inflation rates are above expectations, posing a challenge for high-flying stocks.

Fed's Goolsbee hopes neutral can be in sight by late next year

Chicago Federal Reserve president Austan Goolsbee said that economic conditions will determine how fast the Federal Reserve cuts rates from here, but added he hopes the Fed will be homing in on a stopping point by the end of next year. "I'm hopeful that conditions continue to evolve such that we can get in close to the range" where monetary policy is having a neutral impact on the economy, Goolsbee said in comments to reporters. While he would not specify his estimate of neutral, he said that a level around 3%, well below the current 4.5% to 4.75% rate and roughly the median that Fed officials projected as a stopping point at their September meeting, "doesn't seem crazy to me."

Fed’s Goolsbee Says US Labor Market Still Looks Stable

(Bloomberg) -- Federal Reserve Bank of Chicago President Austan Goolsbee said the labor market appears largely stable despite a bumpy series of data on the US jobs landscape. Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitAs Wars Rage, Cities Face a Dark New Era of Urban DestructionPointing to the average payroll numbers over recent months, Goolsbee said Friday in a question-and-answer sessi

Economic optimism jumps for Republicans, sinks for Democrats after Trump's election win

The University of Michigan Consumer Index rose in December but which political party respondents belonged to proved to be a key dividing line on how they're feeling about the economy.

Fed's Hammack says time to slow rate cuts may have arrived

In her first major policy speech, Federal Reserve Bank of Cleveland President Beth Hammack said on Friday she’s keeping her options open when it comes to the central bank’s next policy meeting, as broader economic conditions continue to argue for a slowdown in the pace of rate cuts. “I believe we are at or near the point where it makes sense to slow the pace of rate reductions,” Hammack said in the text of a speech prepared for delivery before The City Club of Cleveland. As for what will happen at the Federal Open Market Committee meeting scheduled for Dec. 17-18, Hammack said that more data is coming between now and then, noting she “will maintain an open mind” about how to set the federal funds rate, which is currently set between 4.5% and 4.75%.

Fed's Bowman, worried by inflation, calls for caution on rate cuts

Federal Reserve Governor Michelle Bowman said on Friday that inflation risks to the economy remain real and labor market data hard to interpret, and that augurs caution with further decisions on central bank rate cuts. “I continue to see greater risks to the price stability side of our mandate, especially when the labor market continues to be near full employment,” Bowman said at an appearance before the Missouri Bankers Association Executive Management Conference. Bowman, whose comments centered mainly on banking issues, spoke after the releases of data detailing the performance of the job market during November.