Economic indicators

"There is nothing that is saying we need to do anything imminent anytime soon," the Federal Reserve governor said in an interview on CNBC Tuesday.

Stock futures fluctuated on Wednesday as the latest data showed the U.S. economy expanded at a slower rate than previously thought in the second quarter, fueling speculation the Federal Reserve is nearing the end of its rate-hike cycle.

Rising interest rates during June worked to hold potential new homebuyers out of the market, the Mortgage Bankers Association's Builder Application Survey found.

The U.S. economy has a better chance of avoiding a recession in the next 12 months following recent positive data on economic activity and inflation, according to Jan Hatzius, the chief economist at Goldman Sachs Group Inc. 

Americans are so desperate to break free from credit card, mortgage and auto loan debt that they'd resort to dangerous deeds, a survey by Beyond Finance found.

Nearly all Fed participants support additional increases in interest rates in 2023, with the Federal Reserve Bank of Atlanta President as an exception who has called for holding steady for the rest of this year and "well into 2024."

Fannie Mae's Home Purchase Sentiment Index recorded a little more optimism in July.

Researchers at the government-sponsored enterprise also maintained their outlook for a modest recession but moved anticipated onset to the fourth quarter this year.

Gross domestic product is now forecast to only contract in the final three months of the year, and it's projected to merely stagnate in the third quarter instead of shrink, a June survey showed. 

"We will continue to make our decisions meeting by meeting, based on the totality of incoming data and their implications for the outlook for economic activity and inflation, as well as the balance of risks," he wrote in prepared remarks to be delivered to the House Financial Services Committee.