Economy

Nonfarm payrolls increased by 162,000 in August, nearly triple the 55,000 consensus estimate, while the unemployment rate held at 4.1%, the Bureau of Labor Statistics reported. The gain was well above the 31,000 monthly average over the previous 12 months. Previous payroll readings were revised higher. June employment increased by 31,000, up from the initially …

U.S. producer prices were unchanged in July as declining goods costs balanced out increases across services and construction, according to data released by the Bureau of Labor Statistics. The Producer Price Index for final demand remained flat on a seasonally adjusted basis after edging down 0.1% in June and advancing 0.5% in May. Over the …

The Securities and Exchange Commission said it has rescinded a decades‑old policy that barred settling defendants from publicly denying the allegations in enforcement actions where sanctions were imposed. The policy, codified in Rule 202.5(e), required defendants and respondents who settled with the SEC to agree not to publicly deny the agency’s allegations in complaints or …

The Securities and Exchange Commission and Commodity Futures Trading Commission have jointly proposed amendments to Form PF aimed at reducing reporting burdens for private fund advisers while preserving regulators’ ability to monitor systemic risk. Form PF, the confidential reporting form used by certain SEC-registered advisers—including those also registered with the CFTC—supports oversight by the Financial …

Regarding the current uncertainty within the economy, various CFOs across the country are quickly changing their approach to strategies to protect their businesses, according to a newly released survey from Grant Thornton, a provider of audit and assurance, tax, and advisory services.  About 46% of CFOs are feeling “pessimistic” about the U.S. economy, and the …

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has suspended the potential date of the final rule for its anti-money laundering rule, targeted at investment advisors, until January 1, 2028.  FinCEN’s decision to delay the implementation, which was formally introduced under the Biden Administration, comes as the division plans to “revisit the scope” of …

U.S. consumers’ inflation expectations held largely steady in August, but their outlook for the labor market deteriorated, highlighting a growing divide between persistent price concerns and anxiety about employment conditions ahead of the Federal Reserve’s September policy meeting. Median inflation expectations for the one-year horizon were unchanged at 3.6%, according to the Federal Reserve Bank …

The Federal Reserve’s inspector general called for tighter safeguards and clearer governance in selecting regional bank leaders, finding gaps in conflict-of-interest screening and inconsistent procedures across the central bank’s 12 districts. The Office of Inspector General issued 10 recommendations after reviewing the Fed board’s processes from 2021 through 2024 for appointing Class C directors, approving …