Fed Raises Rates for the Second Time in 2017

The Federal Reserve raised the federal funds rate to a target range of 1% to 1.25%, marking the second increase in the rate in the last three months.

Economic Uncertainty Takes Toll on Regional Banks

Reuters reported that the recent decline of U.S. bank stocks has been particularly unkind to regional banks, and that’s not likely to change soon as hopes dim for higher long-term interest rates and timely policy relief from Washington.

SunTrust Survey: High Expectations for Healthcare and Tax Reform

According to the annual Business Pulse Survey by SunTrust Banks, nearly two-thirds of business leaders expect the global and U.S. economy to improve through 2017. Leaders have high expectations for healthcare and tax reform to spur growth.

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.