Our long national paper straw nightmare is over. President Trump signed an executive order switching the federal government back to plastic straws, with the hope that states and cities will follow suit. It is also proof that bipartisanship is not entirely dead. Jon Stewart and Jimmy Kimmel agreed that paper straws are “terrible.”

Data Dump: Industrial Production and Capacity Utilization; Retail Sales; Jobless Claims; PPI; CPI.

Mr. Powell said the central bank doesn’t need to rush to adjust interest rates, again signaling that officials will be patient before lowering borrowing costs further. “With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance,” Mr. Powell told the Senate Banking. “We know that reducing policy restraint too fast or too much could hinder progress on inflation,” he said. “At the same time, reducing policy restraint too slowly or too little could unduly weaken economic activity and employment.”

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