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Wells Fargo beats expectations with $6 billion profit in 2Q

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SILVER SPRING, Md. — Wells Fargo had its most profitable quarter in two years, easily beating Wall Street estimates as the global economy continues...

Powell says inflation will be ‘elevated’ in coming months

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WASHINGTON — Federal Reserve Chair Jerome Powell says that inflation “will likely remain elevated in coming months" before “moderating,” an apparent acknowledgement that price...

UK economy remains 3.1% smaller than pre-pandemic level

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LONDON — Official figures show that the British economy rebounded further in May following another easing of lockdown restrictions, though the increase was about...

EU upbeat over economic growth, concerned about inflation

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BRUSSELS — European Union economies are set to rebound by their highest rates in decades as coronavirus restrictions ease, but still face risks posed...

As US companies scramble to hire, workers enjoy upper hand

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WASHINGTON — With the economy growing rapidly as it reopens from the pandemic, many employers are increasingly desperate to hire. Yet evidence suggests that...

San Francisco Fed’s Daly: Healthy economy needs less support

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WASHINGTON — With interest rates ultra-low even as the U.S. economy swiftly improves, Federal Reserve officials are divided over how quickly they should adjust...

CBO projects federal deficit will hit $3 trillion this year

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The Congressional Budget Office says that the federal budget deficit will again hit $3 trillion this year, $745 billion more than its estimate five...

As US companies scramble to hire, workers enjoy upper hand

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WASHINGTON — With the economy growing rapidly as it reopens from the pandemic, many employers are becoming desperate to hire. Yet the evidence suggests...

Warren Buffett says pandemic’s impact still hard to predict

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OMAHA, Neb. — Billionaire Warren Buffett says the one constant throughout the coronavirus pandemic has been that it has been difficult to predict how...

World Bank raises China growth outlook to 8.5%

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BEIJING — The World Bank raised its forecast of China’s economic growth this year to 8.5% from 8.1% and said Tuesday a full recovery...