Federal Reserve Chairman Jerome Powell on Wednesday acknowledged weakness in the jobs market and the economy. He says the broad sense among the Fed committee is that things may be deteriorating to a point where the economy will soon need stimulus. That could come as soon as September in the form of a rate cut.
Delta says the CrowdStrike–Microsoft outage will cost the airline $500 million. Delta shares are down Wednesday. The massive IT outage earlier this month forced Delta to cancel more than 5,000 flights, leaving hordes of flyers stranded.
