• Reuters

    Fed's Powell, Jefferson to square 'restrictive' policy with strong data

    Federal Reserve Chair Jerome Powell and Vice Chair Philip Jefferson will make what are likely to be their last public comments before the U.S. central bank's next meeting, as they try to reconcile a gravity-defying economy with their assessment that monetary policy is "restrictive" and inflation likely on its way down. Both of those ideas have been called into question by job growth, retail spending, inflation and other data that continue to challenge the Fed's expectation as the year began that the economy was gliding towards lower demand, slower growth, and price increases nearing the central bank's 2% target. Powell just over five weeks ago told a U.S. Senate panel the Fed was "not far" from gaining the confidence in falling inflation needed to cut interest rates, but policymakers, investors and outside analysts have lost a bit of faith in that outlook since.

  • Australian Associated Press

    Torch to light the way towards Paris Olympic Games

    Weather conditions made things a bit tricky, but the torch for the Paris 2024 Olympic Games has been lit at a spectacular ceremony in Ancient Olympia.

  • PA Media: UK News

    ‘Bad faith actors’ made vexatious complaints under Hate Crime Act – Yousaf

    The Scottish Tories are attempting to repeal the legislation with a debate in Holyrood on Wednesday.