Senator Lisa Blunt Rochester, a member of the Senate Banking, Housing, and Urban Affairs Committee, today sent a letter to the Federal Reserve Board of Governors requesting information regarding the recent decision to grant a limited-purpose Federal Reserve master account to Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution…
Economic News
He said inflation rose marginally for two consecutive months, largely induced by external shocks, especially the ongoing war between the US/ Israel and Iran, which has exerted upward pressure on energy prices and transportation costs.. The Governor of the Central Bank of Nigeria, Olayemi Cardoso, said the impact of the United States/ Israel and Iran conflict on…
Looking at Freddie Mac’ s rate archives, interest rates in 2026 decreased for four straight weeks until the U.S. and Israel attacked Iran at the end of February. Now, with the interest ratequarterback Federal Reserve Board chairman Jerome Powell about to step down, experts are reviewing his eight-year scorecard. An inescapable part of Powell’ s legacy will be the…
The Investment Company Institute released the following statement on the Securities and Exchange Commission's proposed amendments to registered offerings. "ICI is pleased to see the SEC's proposed amendments include reforms that would encourage capital formation and expand access to closed-end funds and business development company offerings.
The following information was released by Massachusetts Senator Elizabeth Warren:. U.S. Senator Elizabeth Warren released the following statement in response to the passing of Congressman for Massachusetts and U.S. House Financial Services Committee Chairman Barney Frank:. "In the aftermath of the worst economic crisis since the Great Depression, Barney…
The following information was released by the office of Wyoming Senator Cynthia Lummis:. Senate Banking Subcommittee on Digital Assets Chair Cynthia Lummis released the following statement applauding the Trump administration for issuing an Executive Order expanding access to Federal Reserve Master Accounts for digital asset companies.
On Tuesday, United States Senator Bill Hagerty, a member of the Senate Foreign Relations, Appropriations, and Banking Committees joined Mornings With Maria on Fox Business to discuss U.S.- China talks, budget reconciliation, Iran, proxy advisors and new Federal Reserve Chairman Kevin Warsh. Hagerty on President Donald Trump's visit to China: "The president…
The last week of April marked Fed Chair Jerome Powell's last Federal Open Market Committee meeting before his replacement, Kevin Warsh, stepped in on May 15. This comes with the highest dissent among the board since 1992, with a rare 8-4 split decision, which marks significant internal division and geopolitical uncertainty, according to the FOMC statement.
The following information was released by the Financial Services Forum:. Getting it right should be a top priority for the Federal Reserve and choices about the size of the Federal Reserve's balance sheet should not be shaped by dubious claims that obscure more than they clarify. The Fed's Large Balance Sheet is Affecting Bank Lending.
The following information was released by the Appraisal Institute:. Insights: SEC proposal may shift PNLR REIT filingsvaluation expectations likely remain. Dale C. Cooper, MAI, SRA, AI-GRS, AI-RRS, was nominated for 2027 Appraisal Institute Vice President by the AI National Nominating Committee at its May 13 meeting in Chicago.
The following information was released by the Federal Reserve Bank of New York:. Remarks at the Federal Reserve Bank of Atlanta 2026 Financial Markets Conference, Fernandina Beach, Florida As prepared for delivery. I will then discuss banks demand for reserves based on results from the recent Senior Financial Officer Survey, which the Federal Reserve…
The Federal Reserve Bank of Dallas named Arturo Barrio as vice president and regional executive for El Paso, effective May 18. As regional executive for the only Federal Reserve bank branch on the U.S.- Mexico border, Barrio will also be responsible for deepening the Dallas Feds connections with border economy leaders and experts. The El Paso branch is uniquely…
When the United States Senate confirmed Kevin Warsh as the new Chair of the Federal Reserve on May 13, 2026– with the narrowest margin in the institution's modern history, 54 votes to 45– financial markets interpreted the event as a policy shift. Rather, it represents the crystallization of two structural trends that have evolved in parallel for nearly four…
This is contributing to rising vet care costs, which are up 7% year over year, according to the U.S. Bureau of Labor Statistics. But for breeds at high risk for health problems, the premiums can exceed $1,400 annually. This is 264% higher than the national average premium of $700 per year.Pet insurance premiums exceed $1,400 for breeds that are more likely to…
Despite their reputation as a financially privileged generation, millions of baby boomers are slipping through significant cracks in the U.S. retirement system. The U.S. inflation rate, which surged to 9% in June 2022, has slowed to 3% as of June 2024— but years of price increases have wreaked havoc on retirees' budgets, requiring them to scale down significantly…
WASHINGTON— U.S. wholesale inflation came in hot last month. Producer prices rose 6% from a year earlier, most since December 2022, as the 10- week Iran war pushed up energy prices and put pressure on companies to pass along higher costs to consumers. All the numbers were much higher than economists had expected and it alters the dynamic at the U.S. Federal Reserve…
The following information was released by the Federal Reserve Bank of Atlanta:. While the Top 100 comprise a small fraction of the nearly 10,000 DIs in the United States as of 2021, they account for most of the transaction deposit account balances, 64 percent by number in 2021 and 68 percent by value. Balances of business accounts at these largest institutions…
The following information was released by the Institute of International Finance:. The Institute of International Finance congratulates Kevin Warsh on his confirmation to the Board of Governors of the Federal Reserve System. About the Institute of International Finance.
WASHINGTON— The U.S. Senate approved Kevin Warsh as chair of the Federal Reserve on Wednesday, putting the 56- year-old lawyer and financier at the helm as the U.S. central bank grapples with intensifying inflation that may make it hard to push through the interest-rate cuts President Donald Trump demanded. The vote was 54-45 in the most-partisan-ever U.S….
