Boeing and Embraer working on joint flight plan

NEW YORK — Boeing and the Brazilian jet maker Embraer will attempt to form a joint venture that would push the U. S. aerospace giant more aggressively into the regional aircraft market.

The new company, which has faced heavy scrutiny from lawmakers in Brazil, is being valued at about $ 4.7 billion.

The companies said Thursday that Boeing Co. will own 80 percent of the joint venture, and Embraer SA the remaining 20 percent.

Brazilian lawmakers have been hesitant to allow any deal, fearing the loss of control of a major industrial and defense asset.

Any partnership between Boeing, based in Chicago, and Embraer would counter strengthening ties between Europe’s Airbus and Canada’s Bombardier, which have threatened Boeing.

Fed discusses impact of further rate hikes

WASHINGTON — Federal Reserve officials last month discussed the impact of further hikes in interest rates, saying that by next year they could be at levels that might begin to slow economic growth.

While not forecasting a recession, Fed officials said they were monitoring changes in market- set interest rates. A narrowing in the gap between short- term and long- term rates has been an accurate predictor of downturns in the past.

The Fed officials also noted heightened concerns from businesses about President Trump’s trade policies and that some executives had already scaled back future spending plans because of the uncertainty.