The surprise increase in unemployment filings makes early September the first period since April 2020 when jobless claims rose for three consecutive weeks.

Failure to raise the debt ceiling could lead to a "cataclysmic" economic scenario.

In addition to slow recovery in the labor market, supply-chain bottlenecks and inflation have been 'longer-lasting' than expected, according to Fed Chair Powell.

CIPS is becoming increasingly convenient for global businesses; some see it eventually competing with SWIFT.