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A new US inflation reading has increased market concerns that the Federal Reserve could raise interest rates, according to Anadolu Agency and Reuters, which describe moves in stocks, bonds and the dollar.
The advance government estimate shows US growth beat economists' forecasts, while reported inflation data point to rising price pressures ahead of the midterm elections.
The Fed kept its benchmark rate unchanged on 28 October 2026, after raising rates in September, and said it is waiting for more inflation data, a week before the US midterm elections.
A White House committee will review mortgage-related allegations against Federal Reserve Governor Lisa Cook before a hearing set for 5 November, while her lawyers say an objective hearing would clear her.
The department says it is not reopening a criminal investigation into the former Federal Reserve chair over the central bank's building renovation, while Attorney General Todd Blanche has not ruled out further scrutiny of the project's oversight, according to The Guardian.
Labor Department data released on 2 October showed hiring below economists' forecasts and downward revisions to July and August, a month before the midterm elections.
The Federal Reserve's inspector general made no criminal referral and found no administrative misconduct over the roughly $1bn overrun on the Fed's headquarters renovation, but faulted project management, and President Donald Trump responded by calling on former Fed chair Jerome Powell to resign.