(Reuters) -Federal Reserve Bank of Kansas City President Jeffrey Schmid said on Thursday that last week's central bank interest-rate cut was needed to help ensure that the job market remains in a good place. While the economy is currently in a pretty good spot relative to the Fed's inflation and job goals, some recent data suggests a growing risk that...

WASHINGTON (Reuters) -New orders for key U.S.-manufactured capital goods unexpectedly increased in August, but a decline in shipments of these goods suggested a moderate pace of growth in business spending on equipment this quarter. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending, rose 0.6% last month after a downwardly revised 0.8% jump in July, the...

WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits fell last week, but the labor market has lost its luster amid an anemic pace of hiring. Initial claims for state unemployment benefits dropped 14,000 to a seasonally adjusted 218,000 for the week ended September 20, the Labor Department said on Thursday. Economists polled by Reuters had forecast...

WASHINGTON (Reuters) -The U.S. economy grew faster than previously thought in the second quarter, pumped up by an ebb in imports and a pickup in consumer spending, but momentum appears to have since slowed.  Gross domestic product increased at an upwardly revised 3.8% annualized rate last quarter, the Commerce Department's Bureau of Economic Analysis (BEA) said in its third GDP...