—DOJ subpoenas Federal Reserve, says its chairman, who says he could be indicted over testimony on office renovations.
Economic News
By D. Brian Blank, and Brandy Hadley. To find out what's coming next, The Conversation U.S. checked in with finance professors Brian Blank and Brandy Hadley, who study how businesses make decisions amid uncertainty. Here's what they're expecting from 2026— and what that could mean for households, workers, investors and the Federal Reserve:.
—Reviving a campaign pledge, President Donald Trump wants a one-year, 10% cap on credit card interest rates, a move that could save Americans tens of billions of dollars but drew immediate opposition from an industry that has been in his corner. Americans are paying, on average, between 19.65% and 21.5% in interest on credit cards according to the Federal Reserve…
PORT ANGELES— Geraldine L. Bullard, executive vice president and chief operating officer of First Fed Bank and First Northwest Bancorp, will resign effective Feb. 4 to pursue other opportunities, according to a Form 8- K filed with the Securities and Exchange Commission. Bullard joined the company in 2020 and previously served as interim chief executive…
The following information was released by the Federal Reserve Board:. Pat Wang, president and chief executive officer, Healthfirst, New York, New York, renamed Chair. Rajiv J. Shah, M.D., president, The Rockefeller Foundation, New York, New York, renamed Deputy Chair.
Beginning on January 14, the Federal Reserve said it will resume accepting pennies from banks and credit unions at commercial coin distribution locations, providing services under arrangements with the Federal Reserve that were previously suspended. While the Federal Reserve continues to support penny deposits, local inventory constraints had limited…
The following information was released by the Federal Reserve Bank of Minneapolis:. The Helena Branch Board of Directors welcomed new member Chris Dahl for a three-year term, effective January 1, 2026. Chris Dahl is co-founder and chief revenue officer of Foundant Technologies Inc. in Bozeman, Montana.
The following information was released by the Federal Reserve Bank of Minneapolis:. Jeff Harmening has been appointed as a Class C director and Bernie Sinner has been elected as a Class A director to the Federal Reserve Bank of Minneapolis Board of Directors for standard three-year terms beginning January 1, 2026. The appointment was made by the Board of…
Aguirre, Kelly reappointed as chair, deputy chair of Dallas board. DALLASThe Federal Reserve Bank of Dallas announced the newest appointments to its Dallas board of directors, and the board of directors of its Houston and El Paso branches. Hunter Hunt, chairman and CEO of Hunt Energy LLC and co-CEO of Hunt Consolidated Inc. in Dallas.
Kindler of KnitWell Group designated chair, Sweeney of Liberty Mutual Insurance designated deputy chair. Lizanne Kindler, executive chair and chief executive officer of KnitWell Group, has been designated Board chair. Robert F. Rivers, chair and chief executive of Eastern Bank, will continue to serve as the Boston Feds representative to the Federal Reserve…
ATLANTA: US employers added just 50,000 jobs in December, and with hiring momentum fading fast, the Federal Reserve now faces mounting pressure to accelerate interest-rate cuts at its next meeting rather than continue with cautious, incremental easing. This is the warning from Nigel Green, CEO of global financial advisory giant deVere Group, as today’ s labor…
U.S. stocks rose to more records following a mixed report on the U.S. job market. Treasury yields were mixed following the jobs update, which may delay another cut to interest rates by the Federal Reserve but does not slam the door on it. The U.S. Labor Department said employers hired fewer workers than economists expected, but the unemployment rate was better than…
Senate leaders are signaling caution, warning that dramatic tax cuts could destabilize local governments, which rely heavily on property taxes to fund local services. Democrats, who have little power in the Florida Capitol, are framing affordability as a crisis driven by insurance markets, housing shortages and stagnant wages, and have rolled out a slate of…
—U.S. stocks rose to more records following a mixed report on the U.S. job market. Treasury yields were mixed following the jobs update, which may delay another cut to interest rates by the Federal Reserve but does not slam the door on it. NEW YORK— U.S. stocks are rising toward records Friday following a mixed report on the U.S. job market, one that may delay another cut to…
The following information was released by the Federal Reserve Board:. The Federal Reserve Board on Thursday announced its approval of the application by Prosperity Bancshares, Inc., located in Houston, Texas, to acquire Southwest Bancshares, Inc., and thereby indirectly acquire Texas Partners Bank, both of San Antonio, Texas. For media inquiries, please email or…
The Federal Reserve Bank of New York announced that Michael J. Gilfeather, president and chief executive officer of Orange Bank and Trust Company, has been elected as a Class A Director representing Group 2, which consists of banks with capital and surplus greater than $40 million and less than $2 billion. Orange Bank and Trust Company is an independent…
The Federal Reserve Bank of New York announced that Caryn Seidman Becker, chairman and chief executive officer of CLEAR, has been elected as a Class B Director. Seidman Becker was elected by member banks in Group 2, which consists of banks with capital and surplus greater than $40 million and less than $2 billion. Since 2022, Seidman Becker has served as a…
President Donald Trump said he had made up his mind on who he would nominate to be the next chair of the Federal Reserve, but stopped short of disclosing his pick during a wide-ranging interview with The New York Times. When asked specifically about Kevin A. Hassett, his top economic adviser, Trump said, "I don't want to say," but described him as "certainly one of the…
The Depository Trust& Clearing Corporation, the premier post-trade market infrastructure for the global financial services industry, announced it has received approval from the U.S. Securities and Exchange Commission to offer the ACS Triparty Service within its existing Fixed Income Clearing Corporation's Agent Clearing Service offering.