The following information was released by the Financial Services Forum:. The Bank Policy Institute, Financial Services Forum and The Clearing House Association responded today to the Federal Reserve's request for input on a special-purpose payment account, sometimes referred to as a "skinny master account." This proposal would relax Federal Reserve master…
Economic News
Stephen Harding issued the following statement regarding the arrests of two Glastonbury men accused of using roughly 3,000 stolen identities to open bank accounts and commit widespread fraud. "On Super Bowl weekend, many online bets will be placed. Attempted identity theft in Connecticut will be dealt with swiftly, victims will be protected, and those who…
Jermaine Johnson, regional president of PNC Bank in Washington, D.C., was appointed to the Baltimore Board of Directors by the Board of Directors of the Federal Reserve Bank of Richmond. Radha Muthiah, president and CEO of Capital Area Food Bank in Washington, D.C., was appointed to the Baltimore Board of Directors by the Board of Governors of the Federal Reserve…
The following information was released by Georgia Senator Reverend Raphael Warnock:. Senator Reverend Warnock questioned Treasury Secretary Scott Bessent on the administration's tariff taxes killing manufacturing jobs across Georgia and the country. Since taking office in 2025, President Trump's trade policies have cost Georgia families an extra…
—Treasury Secretary Scott Bessent says it would be“ up to the president” to decide whether or not to sue Kevin Warsh, Donald Trump's nominee to lead the Federal Reserve, if he fails to lower interest rates. Elizabeth Warren, D- Mass., the ranking member of the Senate Banking Committee, pressed Bessent on Trump's remarks during a committee hearing on Wednesday, which…
—A sharp drop for Google' s parent company is yanking the U.S. stock market lower on Thursday, while prices for bitcoin, silver and gold weaken. Yields are also sinking in the bond market following discouraging news on the U.S. job market.. In the bond market, Treasury yields sank after a report said the number of U.S. workers applying for unemployment benefits jumped…
The following information was released by the Federal Reserve Board:. The Federal Reserve Board on Wednesday finalized the hypothetical scenarios for its annual stress test, which helps ensure that large banks can continue to lend to households and businesses even in a severe recession. "Waiting to calculate new stress capital buffer requirements until we…
—The European Central Bank left interest rates unchanged Thursday as the economy in the 21 countries that use the euro chugs past the disruption from U.S. President Donald Trump’ s tariffs with modest yet resilient growth. “The economy remains resilient in a challenging global environment,” the ECB said in a statement. In France, the culmination of Prime Minister…
Trump appoints Kevin Warsh as Fed Chair: What it means for markets. Range discusses what the appointment of Kevin Warsh as the next Fed chair could mean for markets. Wall Street veteran: Before the Fed, he was an investment banker, working at Morgan Stanley on mergers and acquisitions.
Escalating U.S.- Iran tensions raised fears of broader conflict, prompting investors to offload risk assets, including Bitcoin, which failed as a safe haven. A surging U.S. dollar, fueled by Kevin Warsh's nomination for the Federal Reserve Chair role signaling a potential "hard money" policy shift, made dollar-denominated assets more expensive for global buyers…
President Trump has announced he plans to nominate Kevin Warsh to succeed Jerome Powell as chair of the Federal Reserve. And the Fed is designed to be insulated from political pressure, but President Trump has ignored those guardrails and has pushed hard for lower interest rates. So what might Kevin Warsh look like as the chair of the Fed?
President Trump plans to nominate former central banker Kevin Warsh to be the next chair of the Federal Reserve, in hopes that Warsh will follow his roadmap toward much lower interest rates. He beat out other shortlist contenders for the Fed job, including National Economic Council director Kevin Hassett and Fed governor Chris Waller. Trump has repeatedly…
WASHINGTON- Treasury Secretary Scott Bessent said Wednesday that the Federal Reserve needs more accountability after failing the American public by allowing inflation to soar in recent years. The comments, made during a House Financial Services Committee hearing, come after President Donald Trump said he would nominate Kevin M. Warsh to be the next chair of…
Federal Reserve Governor Stephen Miran is resigning from his White House job as chair of the Council of Economic Advisers, fulfilling a pledge he made to senators to avoid the appearance of a conflict. Mr. Miran planned to return to the White House when his fill-in term on the Fed expired on Jan. 31. “In accordance with the pledge he made to the Senate during his…
Senator Ruben Gallego and all eleven Democratic Members of the Senate Committee on Banking, Housing, and Urban Affairs sent a letter to Chairman Tim Scott calling on him to delay the nomination hearing of President Trump's Fed Nominee, Kevin Warsh, until all pretextual investigations against current Federal Reserve Board members are closed.
Mark R. Warner and all ten of his Democratic colleagues on the Senate Committee on Banking, Housing, and Urban Affairs sent a letter to Chairman Tim Scott calling on him to delay the nomination hearing of President Trump's Fed Nominee, Kevin Warsh, until all pretextual investigations against current Federal Reserve Board members are closed.
According to news reporting from Hangzhou, People’ s Republic of China, by NewsRx journalists, research stated,“ This paper examines how U.S. monetary policy is transmitted to the renminbi within China’ s onshore-offshore exchange-rate structure. Using monthly data from 2012 to 2025 and a time-varying parameter vector autoregression model, we identify how…
Intercontinental Exchange, Inc., a leading global provider of technology and data, announced that the U.S. Securities and Exchange Commission has approved its application and rulebook for ICE Clear Credit to expand its current registered Covered Clearing Agency designation to add U.S. Treasury clearing. ICE Clear Credit's U.S. Treasury clearing service is…
The following information was released by the Federal Reserve Bank of Minneapolis:. The Opportunity and Inclusive Growth Institutehas announced the appointment of Thomas S. Dee, Emi Nakamura, and Joseph P. Price to its advisory board. Housed in the Research Division at the Federal Reserve Bank of Minneapolis, the Institute conducts and promotes research that…
