WASHINGTON (Reuters) - U.S. construction spending unexpectedly fell in May as higher mortgage rates depressed single-family homebuilding, and recovery is likely to be muted by improving housing supply. The Commerce Department's Census Bureau said on Monday that construction spending dipped 0.1% after an upwardly revised 0.3% increase in April. Economists polled by Reuters had forecast construction spending rebounding 0.2% after...

(Reuters) - Federal Reserve Bank of New York President John Williams said he continues to believe price pressures are moderating back to the levels targeted by the central bank, in comments made on Sunday. I'm confident that we at the Fed are on a path to achieving our 2% inflation goal on a sustained basis, Williams said, in a video...

WASHINGTON (Reuters) - U.S. manufacturing contracted for a third straight month in June and a measure of prices paid by factories for inputs dropped to a six-month low amid weak demand for goods, indicating that inflation could continue to subside. The Institute for Supply Management (ISM) said on Monday that its manufacturing PMI slipped to 48.5 last month from 48.7...

SINTRA, Portugal (Reuters) -The U.S. central bank still needs more data before cutting interest rates to ensure that recent weaker inflation readings give a true picture of what is happening to underlying price pressures, Federal Reserve Chair Jerome Powell said on Tuesday. Data for May showed the Fed's preferred measure of inflation did not increase at all that month, while...