FED Two voting members of the Federal Reserve have called for the Fed to start tapering bond purchases this year. Both Raphael Bostic and Tom Barkin believe the strong economic recovery does not need as much help from the Fed.
INFLATION Core inflation in July rose 0.3%, less than the 0.4% expected, pointing to moderate inflation. Used car prices also slowed down.
ECONOMY Job openings surged to more than 10 million for the first time in June. The increase stems from the jump in the quits rate as workers experience increased bargaining power.
OIL The White House is asking OPEC to increase oil production to curb rising gas prices. Gas prices have climbed all year as demand has picked up from last year.
TAXES The Senate passed a $3.5 trillion budget blueprint to allocate higher spending. Higher taxes on the wealthy will fund the proposal.
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