Powell Dials Back Expectations on Rate Cuts 

Federal Reserve Chair Jerome Powell said firm inflation had introduced new uncertainty over whether the central bank would be able to lower rates this year.

New-home construction posts biggest drop in four years, despite housing shortage 

Construction on new U.S. homes fell nearly 15% in March, the Commerce Department said Tuesday.

U.S. industrial output rises modestly for second straight month in March 

There are signs that manufacturing is starting to pick up.

Dow Advances as Markets Stabilize 

U.S. stocks edged higher, with the Dow industrials leading gains, as investors cheered earnings from Morgan Stanley and UnitedHealth and digested comments from Fed Chair Jerome Powell.

Recent Data Support Higher for Longer Rates, Fed Vice Chair Says 

Philip Jefferson continues to expect moderating inflation and growth in 2024. It's just taking longer to get there.

The Global Economy Is Picking Up Steam, But the Poorest Countries Are Falling Behind, IMF Says 

The International Monetary Fund expects global economic output to expand 3.2% this year, after previously predicting 2.9%.

Rate Cuts Are Direction of Travel, BOE's Lombardelli Says 

The Bank of England is likely to cut its key interest rate over the coming months, but exactly when is uncertain, the incoming deputy governor for monetary policy said.

Diverging Fed-ECB Policy Outlook Widens U.S.-German Yield Differential 

Diverging prospects for interest rates in the U.S. and eurozone have widened the gap between Treasury yields and Bunds, a trend analysts expect to continue as data point to a strong U.S. economy against a tepid eurozone recovery.

China's Overcapacity Is Already Backfiring 

Excess investment in industry isn't made up by China's trading partners, and it has domestic consequences.

U.K. Labor Market Cools Again, Making Rate Cuts More Likely 

Unemployment ticked higher and wage growth slowed in the U.K. in the three months to February, adding to signs that inflation is easing and making interest-rate cuts likelier in the coming months.

(END) Dow Jones Newswires

04-16-24 1515ET