JACKSON HOLE, Wyo. The U.S. Federal Reserve on Friday left the door open to a September interest rate hike even while several central bank officials acknowledged that turmoil in financial markets, if prolonged, could delay monetary policy tightening.
Nine months after OPEC decided to leave its production target unchanged and pursue market share instead of trying to prop up prices, the group is facing a set of complex problems and decisions going forward.
Its currency is plummeting, unemployment is rising, its stock market is down 20% from a year ago and its president, Dilma Rousseff, has an 8% approval rating -- the lowest since 1992 when Brazil's president was impeached.
That is some conversion, even when a big-name activist like Carl Icahn gets involved. Last month, Freeport-McMoRan FCX 1.69 % sounded unapologetic about investing for the long-term in its businesses.
Defense Secretary Ashton Carter touched down Friday at Moffett Federal Airfield for his second appearance in four months to reassure Silicon Valley that the Pentagon views the region as an essential part of national defense.