Fed Tunes Into Yellen Still Playing Labor-Market Blues

The Federal Reserve’s policy committee has tuned into Chair Janet Yellen’s beat on the U.S. labor market, and it’s still playing the blues. The Federal Open Market Committee’s policy statement yesterday diminished the unemployment rate as a measure of progress toward its full-employment goal, saying “a range” of indicators suggest “significant underutilization...


N.Z. Inflation, Dairy Prices Ease Pressure on RBNZ to Raise Rate

New Zealand inflation accelerated less than economists expected and dairy prices slumped, easing pressure on the central bank to continue raising borrowing costs and sending the Kiwi dollar lower. The consumer price index rose 1.6 percent in the second quarter from a year earlier, after increasing 1.5 percent in the previous period, Statistics New Zealand said in Wellington today....