On Oct. 29, Federal Reserve Chair Jerome Powell announced a quarter-point cut in the federal funds rate. This shift primarily helps the U.S. Treasury finance and refinance ongoing budget deficits rather than support the mortgage market. The reaction was immediate: Despite the rate cut, the 10- year Treasury yield— a benchmark closely tied to mortgage rates— rose…
Economic News
—From corporate executives to Wall Street analysts to Federal Reserve officials, references to the“ K-shaped economy” are rapidly proliferating. A big reason the term is popping up so often is that it helps explain an unusually muddy and convoluted period for the U.S. economy. Persistent inflation has received renewed political attention after voter anger…
The following information was released by the Independent Institute:. Interest rate direction is central to modern U.S. monetary policy, and the last two decades, that direction's been downward. The Federal Reserve drove the federal funds rate to near zero in late 2008, kept it there for seven years, and rates have stayed unusually low through this decade.
Federal Reserve Chairman Jerome Powell famously described the high inflation that had just started dragging down U.S. consumers in July 2021 as "transitory." His word choice suggested that elevated inflation, like stormy weather, would soon pass. In the 25- year period from January 1996 to January 2021, inflation averaged 2.1 percent, roughly in line with the…
—Asian shares were mixed Friday in holiday-thinned trading as tech stocks slipped as a recent rebound driven by hopes for an interest rate cut by the Federal Reserve lost steam. While developments related to artificial intelligence have been driving recent ups and downs in world markets, the focus remains on the outlook for U.S. monetary policy.
The U.S. dollar headed for its steepest weekly drop in four months on Thursday as investors bet on further monetary easing, amid pressure from President Donald Trump to cut rates. U.S. markets are shut for Thanksgiving, leaving liquidity thin and amplifying trading moves. Mark Haefele, chief investment officer at UBS Global Wealth Management, urged investors to…
First, we calculate the financial market returns of FOMC members relative to the overall market and examine if there is any evidence of abnormal returns.”. The news correspondents obtained a quote from the research from Hamilton College,“ Second, we test whether FOMC members exhibit evidence of market timing around monetary policy announcements.
Pinnacle Financial Partners and Synovus Financial Corp. have received regulatory approval for the merger of the two regional financial institutions. The companies announced Tuesday a greenlight from the Federal Reserve System Board of Governors. With shareholders of both institutions approving the merger on Nov. 6, the deal is now expected to be…
Mortgage rates fell this week as investors convinced themselves that the Federal Reserve might cut short-term interest rates when it meets in December. The average rate on the 30- year fixed-rate mortgage fell 15 basis points to 6.08% APR in the week ending Nov. 26, according to rates provided to NerdWallet by Zillow. And during the week before Thanksgiving, the…
First, sitting next to me is the President of Singapore, Tharman Shanmugaratnam. And then, of course, the President of the European Central Bank, Christine Lagarde, is next to him. And then, of course, the Managing Director of the IMF, Kristalina Georgieva; Adena Friedman of Nasdaq she's Chair and CEO of Nasdaq and Gordon Hanson, who is the Peter Wertheim Professor in…
—Asian shares rose on Thursday, taking their cue from Wall Street, where a winning streak extended to a fourth straight day. Japan’ s Nikkei 225 added 1.2% to 50,167.10 as investors bet that the Federal Reserve will cut interest rates at its Dec. 10 meeting. Tech-related stocks advanced, with SoftBank Group jumping 3.6% and Kioxia Holdings up 7.9% following a nearly…
After being part of American currency for over 230 years, the US Treasury has announced the end of the US penny in 2026.. Every penny costs 3.7 cents to produce, and the US Mint incurred a loss of over $85 million in 2024 alone due to the production of 3.2 billion pennies. "A lot of your businesses in town have already started doing the round up," Central Bank Senior Vice…
The following information was released by the Federal Reserve Bank of Atlanta:. Onboarding Remote Workers: A Hassle? Not So Fast, My Friend, " October 1, 2020.
The Federal Reserve Board on Tuesday announced its approval of the application by Steel Newco, Inc., of Peachtree Corners, Georgia, to become a bank holding company by merging with Synovus Financial Corporation, of Columbus, Georgia, and Pinnacle Financial Partners, of Nashville, Tennessee. As a result, Steel Newco will indirectly acquire Synovus Bank, of…
The following information was released by the Federal Reserve Board:. Board of Governors of the Federal Reserve System. The federal bank regulatory agencies today jointly issued a final rule that modifies certain regulatory capital standards to reduce disincentives a banking organization may have to engage in lower-risk activities, such as…
The following information was released by the Federal Reserve Board:. The Federal Reserve Board on Tuesday announced the execution of the following enforcement action listed below:. Former employee of Orrstown Bank, Harrisburg, Pennsylvania.
The EUR/USD pair was flat after a series of US macro data raised the odds of interest rate cuts by the Federal Reserve. The EUR/USD exchange rate was little changed after the latest macro data from the United States. A report by the Commerce Department showed that core retail sales dropped to 0.2% in September from the previous month's 0.6%.
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation have adopted a final rule to modify the enhanced supplementary leverage ratio standards, which apply to the largest and most systemically important banking organizations in the United States.
—Shares in Europe and Asia advanced on Wednesday after benchmarks on Wall Street surged on hopes the Federal Reserve will soon opt to cut interest rates. Britain's FTSE 100 edged 0.1% higher. In Asia, Tokyo's Nikkei 225 rose 1.9% to 49,559.07 in a broad rally that encompassed major exporters and technology shares.
