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Powerful storms and suspected tornadoes slam Midwest, leaving nearly 1 million without power

Severe weather cut power to nearly 1 million customers in the Midwest as perilous thunderstorms and extreme wind gusts pummeled the region Tuesday. Tornado warning sirens howled as the skies darkened. All flights were temporarily stopped at Chicago’s two major airports, and officials warned of delays as the backlog was cleared. According to the flight…

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The Fed was expected to hike interest rates in September. Don’t bet on that now, economists say.

What a difference a day can make for monetary policy.  On Thursday, interest rate futures were decidedly tilted toward the Federal Reserve hiking its benchmark rate in September, according to CME FedWatch, which tracks traders to forecast the central bank’s policy decisions. But after Friday morning’s dismal July jobs report, which showed that employers unexpectedly…

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