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 United Parcel Service Inc and FedEx Corp on Friday said they already work closely with law enforcement to stop illegal shipments from entering the country, after U.S. President Donald Trump called on delivery firms to refuse packages of synthetic opioid fentanyl from China.
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The Federal Reserve ought to adopt a monetary policy rule to guide its interest-rate-setting decisions in part as a bulwark against a near daily barrage of presidential criticism, a widely respected economist told Fed Chair Jerome Powell and other central bankers on Friday.
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 President Donald Trump on Friday slammed Federal Reserve Chairman Jerome Powell after a closely watched speech, asking if the central bank chief or China's president was a bigger enemy of the United States.
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Fed Chairman Jerome Powell gave his most forceful warning yet about the risks to the U.S. economy from escalating trade tensions and the limits to the central bank's ability to cushion any fallout.
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Financial markets will be listening closely to Jerome Powell's speech on Friday for hints about the near-term direction of monetary policy.
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What's happening with the US economy: Live updates CNNDow drops 450 points after Trump orders US companies to look for 'alternative to China' CNBCInvestors hope Powell's speech offers clarity on rate direction. Will it? South China Morning PostOpinion: Surprise! Trump gets something else wrong about the Fed Los Angeles TimesAs Jackson Hole Starts, Emerging Markets Lose Faith in the Fed BloombergView full coverage on Google News
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With the economic outlook darkening, markets will hang on every word of Federal Reserve Chairman Jerome Powell's speech at the Kansas City Fed's annual symposium.
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 President Donald Trump on Friday said the Federal Reserve "did nothing" after Chairman Jerome Powell said the central bank is watching economic developments and will "act as appropriate." Trump, who has frequently pressed the Fed to aggressively cut interest rates, asked in a tweet, "who is our bigger enemy," Powell or Chinese President Xi Jinping, after China announced new tariffs on American products. The Dow Jones Industrial Average flipped into positive territory Friday after Powell's speech, following early losses after the China tariff news was announced.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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One area that has been raising alarm bells is the market's growing expectation that inflation will go lower and lower, and stay there for a long time.
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White House trade adviser Peter Navarro said Friday trade talks with China would continue after Beijing announced tariffs on $75 billion in U.S. goods. Appearing on Fox Business Network, Navarro claimed China was bearing the burden of tariffs the Trump administration has imposed on its products and urged investors to instead focus on a speech by Federal Reserve Chairman Jerome Powell scheduled for 10 a.m. Eastern. Navarro said what he most wants to hear from Powell is "America, we have your back." President Donald Trump has frequently pressed the Fed to cut interest rates more aggressively. U.S. stock futures turned negative after the China tariff announcement.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 Qualcomm Inc won a partial stay
against the enforcement of a sweeping antitrust ruling in a
lawsuit brought by the Federal Trade Commission (FTC), according
to a court filing on Friday.
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Fed Chair Jerome H. Powell says the central bank will do what it can to sustain the expansion
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U.S. stocks fell on Friday after China threatened to impose additional tariffs on $75 billion worth of U.S. goods, ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell.
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Gold futures rallied Friday, with China's plan for retaliatory tariffs on U.S. goods helping to boost investor interest in the haven metal. "Gold is likely to be most volatile during FOMC meetings and days (like today) when we receive a barrage of tweets from President [Donald] Trump and headlines concerning global trade," said Matthew Miller, equity analyst at CFRA Research. "The news regarding China's trade retaliation and [Trump's] multiple tweets attacking the Federal Reserve are overshadowing" the Jackson Hole, Wyo., economic policy symposium, he said. December gold climbed by $29.10, or 1.9%, to settle at $1,537.60 on Comex. That was the highest most-active contract settlement since April 2013, according to FactSet data. For the week, prices were up 0.9%, following weekly gains in each of the past three weeks.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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