Business News

Inflation in Check at Producer Level

US stocks are lower ahead of today’s start to the Fed's two-day meeting. Investors expect a policy statement language tweak, which could signal when interest rate hikes might begin. (CNBC)

The August producer price index (PPI) is unchanged, following a 0.1% increase in July. The ex-food and energy rate increased 0.1% after being up 0.2% in July. (Associated Press)

They must be listening to Financial Focus Radio! The California Public Employees' Retirement System, the nation's largest pension fund, is dumping its hedge fund program to reduce costs and complexity in its investment portfolio. The pension fund will liquidate 24 hedge funds and six hedge fund-of-funds that are part of its Absolute Return Strategies (ARS) program. The investments are valued about $4 billion. (CNBC)

Job openings in July held close to a more than 13-year high, showing companies in the U.S. will probably pick up the pace of hiring. The number of positions waiting to be filled fell by 2,000 to 4.67 million in July from 4.68 million in the month before, which was the highest since February 2001, the Labor Department reported. Some 2.52 million people quit their jobs in July, the highest since June 2008 and up from 2.48 million the prior month. (Bloomberg)

Kids pay attention. A high school graduate will earn almost $500,000 more than a dropout over the course of a lifetime, and a university graduate will earn some $800,000 more than a college dropout. (US Chamber)

Nearly half of the people who exploit the finances of elderly Oregonians are members of their own families. Financial exploitation allegations in Oregon increased by 18% between 2012 and 2013. The study revealed that bank employees and family members of victims were the most likely to report financial exploitation. (Oregon Live)

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