The comments by various Federal Reserve area officials at Jackson Hole Wyoming over the weekend left us more confused than before as both sides of the rate possibilities for September permeated the airwaves.
The U.S. Federal Reserve on Friday left the door open to a September interest rate hike even while several central bank officials acknowledged that turmoil in financial markets, if prolonged, could delay monetary policy tightening.
Recent market turmoil should not delay the Federal Reserve from raising interest rates at least once, given that the global equities selloff and China's economic slowdown have had little effect on the U.S. economy, a top Fed official said on Friday.
The dollar gained for a fourth straight session on Friday, buoyed by calmer financial markets and generally positive U.S. data that supported the notion that the world's largest economy was on a stable growth path.
The U.S. budget deficit is likely to fall by $60 billion in 2015 due to strong revenue gains, the Congressional Budget Office said on Tuesday, enabling the government to stave off default without a debt limit hike perhaps through early December.