The Democratic-run Senate, with some Republican support, is working toward passing legislation this month that targets China and aims to support the American semiconductor industry, in a fresh sign of bipartisan agreement on how to handle Beijing and a key U.S. sector.
The Fed will launch a broad discussion later this summer with the public and Congress about the potential benefits and costs of a digital dollar, Fed Chairman Jerome Powell said Thursday.
Stocks close higher Thursday, as upbeat economic data helps investors shake off worries that a pickup in inflation could force the Federal Reserve to begin reining in its accommodative monetary policy sooner than expected.
Long-dated U.S. government bond yields retreat Thursday, supported by buying that has driven rates lower and prices higher, with strategists pointing to bargain hunting by fixed-income investors in a market viewed as slightly oversold in recent days.