A federal agency says Illinois can't limit credit card swipe fees for federally chartered banks, even though a federal judge earlier this year ruled that it could. Two interim filings posted last week by the Office of the Comptroller of the Currency, an independent subsection of the U.S. Treasury Department, represent the latest twist in a two-year legislative…
Economic News
Two major central bank policy meetings today, at the US Federal Reserve and the Bank of Canada, will be closely watched for detailed forecasts and hints. The most important, the Federal Reserve, will be meeting later, while the Bank of Canada will be meeting first. The Fed is expected to hold rates until December 2027, a more conservative approach driven by the energy…
The plea was announced by John P. Heekin, United States Attorney for the Northern District of Florida. We have zero-tolerance for such criminality in the Northern District of Florida and will seek maximum punishments to keep our public officials safe. " Court documents show that the Defendant made multiple online threats of violence directed at President…
The following information was released by the office of Arizona Senator Ruben Gallego:. Today, Senator Ruben Gallego, along with Senators Elizabeth Warren, Jack Reed, Mark Warner, Chris Van Hollen, Raphael Warnock, Andy Kim, and Lisa Blunt Rochester, sent a letter to Kevin Warsh, President Trump's nominee for Federal Reserve Chair, regarding his failure to…
—Jerome Powell said Wednesday he plans to remain on the board of the Federal Reserve after his term as chair ends next month“ for a period of time, to be determined,” saying the“ unprecedented” legal attacks by the Trump administration have put the independence of the nation's central bank at risk. The Senate Banking Committee earlier approved Powell’ s successor as…
The following information was released by the U.S. House of Representatives Committee on Financial Services:. The hearing focuses on ensuring capital rules are appropriately tailored, support lending and economic growth, and keep U.S. financial institutions competitive globally. "In March, the OCC, FDIC, and Federal Reserve released revised Basel III…
The following information was released by Samford University:. Samford University's Brock School of Business was well represented at the fifth annual Student Research Colloquia on Friday, April 24. Using data from the U.S. Census, Small Business Administration, Bureau of Labor Statistics and the Federal Reserve, Reyes employed a fixed-effects regression…
This week begins with housing, but the real macro story comes later: the Federal Reserve chair's press conference and the Personal Consumption Expenditures inflation report.The Case-Shiller home price index will likely confirm what Zillow's data already showed: home-price growth has cooled. Because Case-Shiller is lagged by almost two months, it should…
Mauritius was downgraded by Moody’s in July 2022 to Baa3, only one notch above sub-investment grade, but with a stable outlook. Moody’s further projected that the government deficit would decline to 4.5% in 2026/ 27, with government debt stabilizing at around 82% of GDP at June 2026 and June 2027. The fiscal deficit for 2025-26 is unlikely to fall below 7% of GDP,…
Today, the Trump Justice Department announced it is' closing' its highly-politicized probe into Federal Reserve Chairman Jerome Powell, one of several dubious investigations undertaken by the Justice Department into President Donald Trump's perceived adversaries. U.S. Senator Jack Reed, a member of the Senate Banking, Housing, and Urban Affairs Committee,…
The following information was released by the Federal Reserve Bank of Minneapolis:. The Federal Reserve Bank of Minneapolis is one of 12 regional Reserve Banks that, with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the nations central bank. The Federal Reserve Bank of Minneapolis is responsible for the Ninth Federal Reserve…
The Republican senator who had effectively blocked confirmation of President Donald Trump's pick to lead the Federal Reserve says he's dropping his opposition after the Department of Justice ended its investigation of the current central bank chair. Thom Tillis of North Carolina removes a big hurdle to Trump's effort to install Kevin Warsh in the job in…
A federal agency says Illinois can't limit credit card swipe fees for federally chartered banks, even though a federal judge earlier this year ruled that it could. Two interim filings posted last week by the Office of the Comptroller of the Currency, an independent subsection of the U.S. Treasury Department, represent the latest twist in a two-year legislative…
—The Bank of Japan decided Tuesday to keep its benchmark rate unchanged at 0.75% amid growing worries about the war in Iran pushing prices of oil and other products higher. The Bank of Japan said that while the economy was still growing moderately it was expected to slow. The U.S. Federal Reserve and central banks in Europe are also meeting on interest rates this…
—The Federal Reserve will meet this week ahead of a looming leadership transition that remains fuzzy, and Wednesday's news conference will be closely watched for any clarification. Also Wednesday, the Senate Banking Committee will vote on whether to confirm President Trump's nominee, Kevin Warsh, to succeed Fed Chair Jerome Powell. The committee is expected…
The following information was released by the Credit Union National Association:. The first order of business this week for the House is consideration of the Senate- passed budget resolution. On Tuesday, the House Financial Services Committee is scheduled to hold a hearing evaluating the impact of capital proposals on Main Street economic growth.
The Central Bank of Nigeria, CBN, has been proactive and methodical in formulating policy measures to stabilise and boost the economy towards achieving sustainable growth. The recent 2026 banks recapitalisation has been widely applauded by industry watchers, experts and prominent institutions, including the International Monetary Fund, IMF, as it is…
For over a century, the Federal Reserve has served as an independent central bank that can set interest rates without interference from Congress or the White House. But now, President Trump is sending clear signals that he wants his Fed nominees to advance his chaotic agenda from inside the Federal Reserve. Leading up to today's hearing, President Trump has…
Republican Senator Thom Tillis on Sunday said he would allow Senate confirmation of Federal Reserve chair nominee Kevin Warsh to go forward after the Department of Justice on Friday dropped an investigation into Fed Chair Jerome Powell that Tillis viewed as a threat to the central bank's political independence. The decision ends months of limbo for Warsh…
