Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
The president also said he "offered to personally vouch" for Rocky's bail. Sweden, however, does not have a bail system.Politicsread more
CoinShares Chief Strategy Officer Meltem Demirors discusses Facebook's Libra project and its impact on the cryptocurrency market after testifying to the House Financial...Fast Moneyread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
The U.S. economy expanded at a modest pace in July and August, the Federal Reserve said on Wednesday, but there was little sign that wage pressures are being felt beyond highly skilled jobs.
Most of the U.S. central bank's 12 districts around the country reported wage pressures remained "fairly modest" and were expected to remain so over the coming months, the Fed said in its Beige Book report of anecdotal information collected from business contacts.
A lack of wage pressures has been a thorn in the Fed's side as it seeks to raise interest rates. Despite the U.S. labor market nearing full employment, economists have yet to see that spark broad-based higher wages and in turn higher inflation.
The report also tallies with data released earlier on Wednesday which showed U.S. job openings surged to a record high in July, but a lag in hiring suggested employers were struggling to find qualified workers to fill the positions.
U.S. central bank policymakers have sought in recent weeks to revive expectations of an interest rate hike this year after repeatedly holding off amid slowing domestic and global economies.
In its report, the Fed said many districts reported increased wage pressures for highly skilled workers and difficulty filling job vacancies for such positions "especially those aimed at technology specialists, engineers, and selected construction workers."
But in a sign of the mixed picture, Boston contacts reported an "unusually high" number of job openings whereas the Philadelphia Fed saw an increase in part-time employees and longer workweeks along with a reduction in full-time hires, the Fed said.
Overall, price increases remained slight overall and consumer spending was little changed in most districts, the Fed added.
Inflation has run below the Fed's 2 percent target rate for more than four years. Policymakers are hesitant to raise interest rates again until they see a sustained pickup.
The Fed raised rates from near zero for the first time in a decade last December, and has emphasized the pace of any further interest rate rises will be historically slow.
Traders currently see the Fed holding off on another rate rise until at least December.
The Beige Book was compiled by the San Francisco Fed with information collected on or before Aug. 29, 2016.
The Fed's next policy meeting is on Sept. 20-21.
This story is developing. Please check back for further updates.
for the latest on the markets.