WSJ: Manufacturing Renaissance at Risk Due to Strengthening Dollar

The Wall Street Journal reported that the rising dollar is thwarting the plans of U.S. manufacturers that export goods.

Federal Reserve Raises Benchmark Rate

In light of strong job growth and increased economic activity, the Federal Open Market Committee voted to raise the target range for federal funds rate a quarter of a percentage point with three more increases planned for 2017.

Durable Goods Orders Remain Relatively Unchanged in August

New orders for manufactured durable goods in August remained virtually unchanged, decreasing just $100 million to $226.9 billion, according to the latest report from the U.S. Census Bureau.

Fed Holds Rates, Notes ‘Soft’ Business Fixed Investment

The FOMC decided at its most recent meeting to maintain the target range for the fed funds rate at 1/4 to 1/2%. The committee noted household spending has been growing strongly, but business fixed investment remained soft.

WSJ: Fed Not Leaning to Negative Interest Rates

The Wall Street Journal reported that Fed chairwoman Janet Yellen did not mention using negative rates to stimulate the economy at its recent meeting.

Durable Goods Orders Increase 4.4%, End Two Month Slide

New orders for manufactured durable goods in July increased $9.7 billion or 4.4% to $228.9 billion, following two consecutive monthly decreases, according to the U.S. Census Bureau.

Bloomberg: Jobless Claims Data Underscores Health of Labor Market

Bloomberg reported that the number of Americans filing applications for unemployment benefits rose by 3,000 to 269,000 last week.

FOMC: Only Gradual Increases in Fed Funds Rate Expected

At their most recent meeting, Federal Reserve policymakers said they expect economic conditions will evolve in a manner that will warrant only gradual increases in the fed funds rate.

Bloomberg: Brexit Increasing Recession Risk

Bloomberg reports that the British decision to leave the European Union is increasing the risk of economic recession in the UK.

U.S. Small Business Lending Down in May

The May 2016 data release of the Thomson Reuters/PayNet Small Business Lending Index (SBLI) decreased by 1% in May, falling to 128.6 from the 129.5 April reading. It marks the third consecutive month of decrease.