Federal Reserve Bank of Cleveland President Beth Hammack said on Friday that while she expects inflation pressures to moderate, if they are not easing later this year the U.S. central bank may have to weigh tighter monetary policy to ensure price pressures retreat to 2%. "My expectation has been that inflation would start making progress towards our 2% target.
* Fed's Hammack says too soon to say what oil shock means for economy. * Hammack says rate hike may be on table if inflation does not ease. * Hammack wants confidence inflation easing before cutting again. By Michael S. Derby.
* US equity indexes fell this week as oil prices continued to rise due to energy disruption fears and surprise February jobs data. * The S&P 500 closed at 6,740.02 on Friday versus 6,878.88 a week ago.
Michael Eisenga, CEO of 1st American Properties, today issued the following commentary in response to the February 2026 U.S. Employment Situation Report, which revealed an unexpected decline in job growth and raised new concerns about economic momentum. The report showed nonfarm payrolls declining by 92,000 jobs, a surprise contraction in a labor market economists widely expected to expand.
Federal Reserve policymakers are expected to hold short-term borrowing costs steady at their March 17-18 meeting, as they did in January, even as they weigh what the Iran conflict, higher oil prices, still-high inflation and a weakening labor market mean for policy at subsequent meetings.
New analysis from UMIP Inc. highlights how the absence of persistent identity systems for infrastructure assets may be creating one of the largest hidden inefficiencies in the global built environment. DALLAS, March 6, 2026 /PRNewswire/ --?Vehicles have?Vehicle Identification Numbers??that follow them throughout their lifecycle. Buildings do not have VIN numbers.
* Middle East conflict raises oil prices, affecting South Africa's inflation outlook. * South African Reserve Bank to redraft risk scenarios for March 26 meeting. * Rand's exchange rate impact on inflation more significant than oil price changes, Kganyago says. By Karin Strohecker.
The Federal Reserve should hold its monetary policy steady for "some time" as it seeks evidence that inflation is cooling, Cleveland Fed President Beth Hammack and her Boston Fed counterpart, Susan Collins, said Friday. In January, the central bank's Federal Open Market Committee left its benchmark lending rate unchanged, citing stabilization in the labor market and elevated inflation.
* Weak jobs report shows nonfarm payrolls decreased by 92,000. * Fed rate cut expectations for June meeting grow. * 10-year and 2-year yields on pace for biggest weekly rise since April. By Chuck Mikolajczak.
As the FOMC enters its quiet period ahead of the March 17-18 meeting, the weak February employment report, which showed payrolls declines in the two of the last three months and an increase in the unemployment rate, only served to further divide members' views on the path of monetary policy.
The February employment report was weak amidst strikes and harsh winter weather, with payrolls down, the unemployment rate higher, and hourly earnings growth in line with the previous month. Nonfarm payrolls fell by 92,000 in February after a 126,000 gain in January and a 17,000 drop in December, both revised lower from their previous estimates.
South Africa's central bank will redraft its risk scenarios for its next rate-setting policy meeting as the widening Middle East conflict pushes up oil prices, the country's central bank governor told Reuters.
Argentina's industrial output fell 3.2% in January compared to the same month last year in non-seasonally adjusted terms, data from national statistics agency INDEC showed on Friday. January industrial output in South America's second-largest economy increased 3.1% compared to December last year in seasonally adjusted terms, according to the INDEC data.
Federal Reserve Bank of Cleveland President Beth Hammack said Friday she sees no imminent need to change the stance of monetary policy in an economy where inflation is still "too high."
Federal Reserve Bank of Boston President Susan Collins said on Friday she sees no looming need to change interest rates, with the outlook for easing monetary policy contingent on a further retreat to the 2% inflation target.
* US-Israeli war with Iran hits trade flows, energy prices. * Conflict comes as world already reeling from US tariffs. * Sectors from consumer goods to speciality materials hit. * War could dent global GDP, cause billion-dollar hits to firms. By Ben Blanchard, Elisa Anzolin and Christoph Steitz.
Kansas City Federal Reserve President Jeff Schmid on Friday said he believes that the advent of artificial intelligence is leading some businesses to pause hiring even as an aging population is creating real structural change in the labor market. "Between fiscal policy and just the nature of the baby boomer class retiring out, we have a real structural thing going on," Schmid said.
* February job loss, surge in oil prices raise stagflation concerns. * Fed expected to hold rates steady at March meeting. * Investors bet on June rate cut amid economic uncertainties. By Howard Schneider and Ann Saphir.
Kazakhstan?s central bank formed a $350 million portfolio from gold and foreign exchange reserves for crypto-related investments starting April, focusing on crypto infrastructure companies and index funds rather than direct Bitcoin allocations. Governor Timur Suleimenov announced the investment program at a briefing on interest rates Friday.
US retail sales fell less than expected in January as extreme weather conditions impacted spending on motor vehicles and gasoline, delayed government data showed Friday. Sales were down 0.2% sequentially in January, following a flat reading the previous month, the Census Bureau said. The report was delayed due to the recent lapse in federal government funding, according to the Census Bureau.
US employment unexpectedly declined in February and the jobless rate ticked higher, possibly bringing labor market conditions back in focus at a time when the US-Iran war threatens to fuel inflation. Nonfarm payrolls fell by 92,000 last month -- the biggest drop since October -- following a downwardly revised gain of 126,000 in January, the Bureau of Labor Statistics said Friday.
* BANK OF ENGLAND GRILLS LENDERS OVER COLLAPSED MORTGAGE PROVIDER MFS - FT. * OFFICIALS AT BOE'S PRUDENTIAL REGULATION AUTHORITY HAVE REQUESTED MORE INFORMATION FROM BANKS, INCLUDING BARCLAYS REAGRDING MFS COLLAPSE - FT Source text: [https://tinyurl.com/5f4a9u8j]
U.S. business inventories edged up in December amid a rebound in stocks at retailers, government data showed on Friday. Inventories increased 0.1% after being unchanged in November, the Commerce Department's Census Bureau said. Inventories are a key component of GDP and one of the most volatile. Inventories advanced 1.6% on a year-over-year basis in December.
Bolstering government economic reports with private data could improve Federal Reserve policymaking by helping officials better anticipate changes in jobs and inflation, a team of top economists has concluded.
U.S. business inventories edged up in December amid a rebound in stocks at retailers, government data showed on Friday. Inventories increased 0.1% after being unchanged in November, the Commerce Department's Census Bureau said. Inventories are a key component of GDP and one of the most volatile. Inventories advanced 1.6% on a year-over-year basis in December.
Canadian economic activity expanded at a faster pace in February as inventories climbed, Ivey Purchasing Managers Index data showed on Friday. The seasonally adjusted index rose to 56.6 last month from 50.9 in January, posting its highest level since September. The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada.
* Indexes off: Dow 1.85%, S&P 500 1.57%, Nasdaq 1.4% * Dow at over three-month low as financials weigh. * Marvell Technology shares jump on strong 2028 forecast. * Fed's Waller: current oil price shock to not fuel persistent inflation. By Johann M Cherian and Ragini Mathur.
Following today?s release from the U.S. Bureau of Labor Statistics showing a national decrease of 92,000 payroll jobs in February, Jersey Hired, the state?s leading hyper-local talent platform, is issuing a call for resilience among New Jersey?s workforce.
Wall Street's main indexes opened lower on Friday as the conflict raging in the Middle East threatened to fuel inflation through higher energy costs and data showed the economy unexpectedly shed jobs in February.
The U.S. economy unexpectedly shed jobs in February and the unemployment rate increased to 4.4%, potentially hinting at a?deterioration in labor market conditions that could put the Federal Reserve in a difficult spot amid rising oil prices.
Wall Street's main indexes opened lower on Friday as the conflict raging in the Middle East threatened to fuel inflation through higher energy costs and data showed the economy unexpectedly shed jobs in February.
The dollar held gains against major currencies on Friday, after data showed an unexpected decline in new jobs created in the world's largest economy last month, suggesting that the Federal Reserve could cut interest rates sooner than expected.
* Futures off: Dow 1.21%, S&P 500 1.18%, Nasdaq 1.43% * Marvell Technology shares jump on strong 2028 forecast. * Gap shares drop after warning of pressure from tariffs. * Fed's Waller: current oil price shock to not fuel persistent inflation. By Johann M Cherian and Ragini Mathur.
San Francisco Federal Reserve President Mary Daly said Friday that a weaker-than-expected U.S. jobs report underscores her concern about the labor market, but does not mean the Fed should immediately cut rates in response, given the "two-sided" risks posed by still-too-high inflation coupled with a runup in oil prices amid the Iran conflict.
* Weak jobs report shows nonfarm payrolls decreased by 92,000. * Yields fall as Fed rate cut expectations grow. By Chuck Mikolajczak. U.S. Treasury yields were lower on Friday, dropping sharply after a government payrolls report fell well short of expectations and boosted views that the Federal Reserve may need to cut interest rates at a quicker pace.
US retail sales fell by 0.2% in January, a smaller than the 0.3% decrease expected in a survey compiled by Bloomberg after it held steady in the previous month. Excluding a 0.9% decrease in motor vehicle sales, retail sales held steady compared with an expected flat reading.
Fresh signs of labor weakness and oil-driven inflation concerns are cornering U.S. Federal Reserve officials into an uncomfortable choice: leave borrowing costs steady to ensure that inflation does not worsen or cut them to shore up a job market that is losing ground. For now, they look poised to wait, even as traders ramped up bets that rate cuts will start in June.
U.S. stock index futures extended declines on Friday as a softer-than-expected jobs report raised worries about the labor market and boosted expectations that the Federal Reserve could imminently cut interest rates. A Labor Department report showed the U.S. economy shed 92,000 jobs last month, compared with economists' estimate for a rise of 59,000.
The February employment report showed nonfarm payrolls fell by 92,000, well below the 55,000 jobs increase expected in a survey compiled by Bloomberg, while January payrolls were revised down to a 126,000 increase and December payrolls were revised down to a 17,000 decrease for a net downward revision of 69,000 jobs.
The U.S. economy unexpectedly lost jobs in February and the unemployment rate increased to 4.4%, potentially hinting at a deterioration in labor market conditions that could put the Federal Reserve in a difficult spot amid rising oil prices.
* Nonfarm payrolls decrease 92,000 in February. * Decline in employment nearly across the board. * Unemployment rate rises to 4.4% from 4.3% in January. By Lucia Mutikani.
Rising gas prices following the U.S. launch of airstrikes against Iran may be a shock to the consumer, but the global jump in oil is not likely to lead to persistent inflation or warrant a change in monetary policy, U.S. Federal Reserve Governor Christopher Waller said on Friday. "You're going to see a spike in gasoline prices.
Rising gas prices following the U.S. launch of airstrikes against Iran may be a shock to the consumer, but the global jump in oil is not likely to lead to persistent inflation or warrant a change in monetary policy, U.S. Federal Reserve Governor Christopher Waller said on Friday. "You're going to see a spike in gasoline prices.
US equity futures were lower pre-bell Friday as traders looked ahead to the crucial monthly jobs report. Dow Jones Industrial Average futures were down 0.7%, S&P 500 futures were 0.7% lower, and Nasdaq futures were down 0.9%. The conflict between the US, Israel, and Iran entered its seventh day on Friday, with Tehran effectively shutting down the Strait of Hormuz, a key global shipping chokepoint.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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