WASHINGTON (Reuters) -U.S. consumer confidence unexpectedly deteriorated in June as households worried about business conditions and employment prospects over the next six months. The Conference Board said on Tuesday its consumer confidence index dropped 5.4 points to 93.0 this month, erasing nearly half of the sharp gain in May. Economists polled by Reuters had forecast the index increasing to 100.0. ...

NEW YORK (Reuters) -Federal Reserve Bank of Cleveland President Beth Hammack said Tuesday she sees no pressing need to cut interest rates when there's still a lot of uncertainty what trade tariffs will do to inflation, which is still above the central bank'suncertainty whatGiven the resilience of the economy thus far, the risks from maintaining the current policy setting appear...

09:07 AM EDT, 06/24/2025 (MT Newswires) -- The Federal Open Market Committee has time to see how the economy progresses before deciding on rate reductions, Federal Reserve Chairman Jerome Powell is expected to say Tuesday in prepared testimony before the House Financial Services Committee. For the time being, we are well positioned to wait to learn more about the likely...

WASHINGTON (Reuters) -The U.S. current account deficit widened to a record high in the first quarter as businesses front-loaded imports to avoid President Donald Trump's hefty tariffs on imported goods. The Commerce Department's Bureau of Economic Analysis said on Tuesday the current account deficit, which measures the flow of goods, services and investments into and out of the country, jumped...