Updated: 1 hour 5 min ago
First-time jobless claims filings totaled 353,000 for the week ended Aug. 21 while second-quarter- GDP growth was revised up to 6.6%.
Kansas City Fed President Esther George said it's time for the central bank to start dialing back its policy stimulus.
If the recovery is going to continue, it will need delta to fade, and there are signs that the tide might be turning, albeit slowly.
Home sales rose for the second straight month but were barely higher than in July 2020.
The Federal Reserve on Wednesday released the minutes from its July 27-28 meeting.
Mortgage demand drops after rates rise to highest level in a month.
Homebuilder sentiment falls to the lowest level in a year, due to rising construction costs pushing home prices higher.
Retail sales were expected to decrease 0.3% in July, according to economists surveyed by Dow Jones.
Consumers, concerned over Covid delta spread, likely spent less in July, economists say.
Interviews with officials along with their public comments show growing support for a faster taper timeline than markets had expected a month ago.
The University of Michigan consumer sentiment index dropped more than 13% in its preliminary August reading.
Jobless claims numbers have come down sharply since the spring as the economy has recovered, and they have settled near the 400,000 level in recent weeks.
Prices that Americans pay for everyday goods and services accelerated in July, but about where economists had expected.
Dallas Fed President Robert Kaplan said that the central bank should begin to taper its monthly purchases of Treasury bonds in October.
The jump came as the quits increased while the layoffs and discharges rate was unchanged, reflecting increased bargaining power for workers.
President Joe Biden said the strong July jobs numbers were no cause for celebration, because rising Covid cases pose an urgent threat.
The latest jobs report from the Labor Department reflects progress, which could put the central bank on track to dial back its bond purchases.
Black and Hispanic unemployment dropped in the July jobs report, but the figures are high compared with the jobless rate for whites and Asians.
Hiring rose in July at its fastest pace in nearly a year despite fears over the delta variant and as companies struggled with a tight labor supply.