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Booker said in a statement that the deal is flawed, but the alternative is worse.

It wasn’t like USA markets were in flawless shape before China’s spooked them.

On the New York Mercantile Exchange, platinum futures for October delivery slid 1.8 percent to $992.40, and palladium futures for December delivery dropped 0.8 percent to $577.15 an ounce.

US Federal Reserve vice-chairman Stanley Fischer joined the European Central Bank vice-president Vitor Constancio and Bank of England governor Mark Carney on Saturday on a panel at the Kansas City Fed’s annual retreat in Jackson Hole, Wyoming, dedicated to discussing...

On Friday, Fischer hinted that a rate hike was still a possibility in September despite widespread concerns about recent turmoil in stock markets.

During the last week in August, the People’s Bank of China drew the attention of traders worldwide by cutting the benchmark lending rate 0.25 percentage point to 4.6%.

While Yao Yudong, head of the People’s Bank of China Research Institute of Finance and Banking, last week blamed the Fed for the market turmoil and said a US hike should be delayed, most central bankers from emerging markets contacted by Reuters said it will be better if...

The downdraft from China is rattling economies of its trade-reliant Asian neighbours and prompting many Western companies to reduce investments and look for ways to cut costs.

Following a six-year run-up in U.S. stocks that has pushed major indexes to all-time highs, investors worry the economy could falter if the Fed raises rates too soon, chocking economic growth.

The short-term macroeconomic priorities of RBI are, therefore, clear – to focus on reducing inflation in line with the proposed glide path; work with the government and banks to speed up resolution of dis-tressed projects and cleaning up bank balance sheets; ensure banks...

Dudley suggested, however, that the Fed’s decision will depend more on global economic troubles then market volatility.

This time, battles over Planned Parenthood and education could lead to another standoff between the Republicans and the White House, and Heckscher doesn’t see the Fed making a move under threat of a shutdown.

Concerns over China’s slowing economy that sent global stock and commodity markets on a recent free fall are heightened by the opacity and conflicting signals from the country’s political leadership and its central bank.

China’s central bank cut interest rates and lowered the amount of reserves banks must hold for the second time in two months on Tuesday, ratcheting up support for a stuttering economy and a plunging stock market that has sent shockwaves around the globe. The Nasdaq...

Trading was more volatile on China’s smaller Shenzhen Composite, which opened higher, but then shed as much as 3% before mounting a recovery.