Good as gold! Trove of 2,000-year-old treasure pulled from underwater city off coast of Egypt

Over the course of this year, the U.S. economy has shown resilience in a context of sweeping changes in economic policy. In terms of the Fed's dual-mandate goals, the labor market remains near maximum employment, and inflation, though still somewhat elevated, has come down a great deal from its post-pandemic highs. At the same time, the balance of risks appears to be shifting. In my remarks today, I will first address the current economic situation and the near-term outlook for monetary policy. I will then turn to the results of our second public review of our monetary policy framework, as captured in the revised Statement on Longer-Run Goals and Monetary Policy Strategy that we released today. Current Economic Conditions and Near-Term Outlook When I appeared at this podium one year ago, the economy was at an inflection point. Our policy rate had stood at 5-1/4 to 5-1/2 percent for more than a year. That restrictive policy stance was appropriate to help bring down inflation and to foster a sustainable balance between aggregate demand and supply. Inflation had moved much closer to our objective, and the labor market had cooled from its formerly overheated state. Upside risks to inflation had diminished. But the unemployment rate had increased by almost a full percentage point, a development that historically has not occurred outside of recessions. Over the subsequent three Federal Open Market Committee (FOMC) meetings, we recalibrated our policy stance, setting the stage for the labor market to remain in balance near maximum employment over the past year (figure 1). *POWELL: SHIFTING BALANCE OF RISKS MAY WARRANT ADJUSTING POLICY *POWELL: SITUATION SUGGESTS DOWNSIDE RISKS TO EMPLOYMENT RISING ?*POWELL: WON'T ALLOW ONE-TIME INCREASE TO BECOME ONGOING PROBLEM *POWELL: LABOR-MARKET STABILITY ALLOWS US TO PROCEED CAREFULLY *POWELL: LABOR SUPPLY HAS SOFTENED IN LINE WITH DEMAND *POWELL: SHORT-LIVED TARIFF PRICE EFFECTS A REASONABLE BASE CASE The highlights from Powell's speech pic.twitter.com/UPRNAZzV85

In this day and age, receiving a cold call at any time can be disarming, but Norway’s finance minister reportedly took a most surprising ring on the streets of Oslo earlier this month. According to Norwegian newspaper Dagens Naeringsliv, the cold caller was U.S. President Donald Trump, and the request for Norway’s Finance Minister Jens Stoltenberg, was how ...

The great wealth transfer is leading to a great real estate transfer, with up to $25 trillion in real estate owned by older generations that could get passed down — and fought over — in their families. According to Cerulli Associates, $105 trillion is expected to be passed down by baby boomers and older generations by 2048. Real estate, including primary ...