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
—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…
The Justice Department is dropping its criminal investigation of Federal Reserve Chairman Jerome Powell, a move that opens the way for President Trump's nominee, Kevin Warsh, to head the central bank. Prosecutors were exploring whether Mr. Powell lied to Congress in his testimony last summer about the cost of renovating the Fed's Washington headquarters.
"Colleagues, Kevin Warsh has lived the American Dream. WASHINGTON U.S. Senator Dave McCormick today introduced his friend, Kevin Warsh, at his nomination hearing before the Senate Banking Committee to chair the Federal Reserve. "It is my great honor to introduce my friend, Kevin Warsh, and to welcome him and his wife Jane here today.
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. Milwaukee, Hartford, Buffalo, Cleveland, Chicago and New York have…
—The Republican senator who had effectively blocked confirmation of President Donald Trump’ s pick to lead the Federal Reserve said Sunday he was 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, a…
The U.S Federal Reserve will release its FOMC Statement this coming weekend and is not expected to change the Federal Funds Rate. Now that this bit of information is out of the way, day traders should continue to focus on sentiment shifts developing because of the lack of clarity regarding the situation in the Middle East and its effects on the costs of energy, and…
OKLAHOMA CITY— Business activity in the Tenth District manufacturing sector, which includes Oklahoma, continued to grow and expectations for future activity rose slightly from last month, the April manufacturing survey conducted by the Federal Reserve Bank of Kansas City revealed. "Regional manufacturing activity continued to expand, but raw materials…
CHICAGO— There's heightened concern across the Corn Belt due to the surge in fertilizer and fuel prices, combined with a volatile commodity market. This document summarizes comments received and is not a commentary on the views of Federal Reserve officials. Expectations for 2026 Seventh District farm income declined overall during the reporting period as…
–U.S. Attorney for D.C. Jeanine Pirro said Friday she is closing the Justice Department's criminal investigation into Federal Reserve Chair Jerome Powell, days after a key hearing for his replacement. Pirro said the IG had been asked Friday to scrutinize billions of dollars in cost overruns on Federal Reserve building renovations, and reserved the right to…
The Federal Reserve Board on Friday announced its approval of the application by Banco de Credito del Peru, of Lima, Peru, to establish a state-licensed branch in Coral Gables, Florida.
The Federal Reserve Board on Friday announced its approval of the application by OceanFirst Financial Corp., of Toms River, New Jersey, to merge with Flushing Financial Corporation, and thereby indirectly acquire Flushing Bank, both of Uniondale, New York.
WASHINGTON- The Justice Department closed its investigation into Federal Reserve Chair Jerome Powell, U.S. Attorney Jeanine Pirro said on Friday, removing an obstacle to the confirmation of Kevin Warsh, President Donald Trump's pick to lead the central bank. Pirro said she instead asked the Fed's internal watchdog, the Office of Inspector General, to examine…
—The Department of Justice announced Friday it was dropping its criminal investigation into Federal Reserve Chair Jerome Powell and his handling of renovations at the central bank. The announcement from Jeanine Pirro, U.S. attorney for the District of Columbia, likely clears the way for the confirmation of Kevin Warsh, the former Fed board member nominated by…
