Fed Opens, Confidence Slips, Hiring Cools

The Federal Reserve opens its two-day June meeting today with a rate hold almost certain — prime stays at 6.75 percent and business borrowing costs won't budge. Meanwhile, NFIB's May optimism report shows small business confidence below its 52-year average for a third straight month, with supply chain disruptions up sharply and capital spending at a 17-year low. And while owners are pulling back on hiring, that creates an unusual opening for businesses ready to add staff right now.