1. Powell says cooling inflation still too high
Federal Reserve Chair Jerome Powell said Thursday that inflation had cooled significantly this year but remained unacceptably high and won't come down to the central bank's 2% target until the economy and job market slow. "We certainly have a very resilient economy on our hands," Powell said at the Economic Club of New York. Instead of slipping into a recession, as many economists predicted, "growth is now running for this year above its longer-run trend," he added. But he said the Fed still might not have to raise interest rates again this year because spiking long-term bond rates are increasing borrowing costs just as a Fed rate hike would, and that could cool growth. The Associated Press
2. Union Pacific profit falls as freight traffic slips
3. FCC moves to restore net neutrality
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4. Stocks struggle as Treasury yields top 5%
5. Home sales dragged down by prices, mortgage rates
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