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In September, the Federal Reserve cut its benchmark interest rate for the first time in four years and then followed up with two more reductions, in November and December. The average U.S. 30- year fixed mortgage rate, for example, rose to 6.85% last week. That is well below the 7.8% peak it reached in November 2023.

Spokeo analyzed data from the Federal Deposit Insurance Corporation to illustrate where in the U.S. the most unbanked Americans live. About 4.2% of Americans were considered unbanked in 2023, according to survey data the FDIC released in November. Researchers at the Federal Reserve have referred to being unbanked as "financial exclusion.

The economy added 256,000 jobs in December, seasonally adjusted, the Labor Department reported on Friday. "This employment report really crushes all expectations," said Scott Anderson, chief U.S. economist at BMO Capital Markets. Investors already expect Federal Reserve officials to hold steady at their meeting in late January.

UMB will have approximately $66 billion in assets, elevating it to the top 4% of publicly traded U.S. banks. KANSAS CITY, Mo.& DENVER—- UMB Financial Corporation and Heartland Financial USA, Inc. are pleased to share that the necessary regulatory approvals from the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System…

UMB will have approximately $66 billion in assets, elevating it to the top 4% of publicly traded U.S. banks. KANSAS CITY, Mo. and DENVER, Colo.- UMB Financial Corporation and Heartland Financial USA, Inc. are pleased to share that the necessary regulatory approvals from the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve…

The Labor Department releases its producer price index for December on Tuesday. The Labor Department issues its December report on consumer prices on Wednesday. That has raised warning flags for the Federal Reserve, which cut interest rates three times in 2024, but has signaled that it will proceed cautiously in 2025..

In the UK, wage data released during the month showed average weekly earnings increasing more than expected. Concerns over sticky inflation weren't just kept to the UK; during the final meeting of the year, the US Federal Reserve cut rates as expected but the latest' dot plot' showed 50 bps of expected interest rate cuts for 2025, down from 100 bps in September and…

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The economic forecast for 2025 is sunny, with a high chance of business optimism, according to Federal Reserve Bank of Richmond President and CEO Tom Barkin, who spoke Thursday during the virtual 2025 Financial Forecast held by the Virginia Bankers Association and the Virginia Chamber of Commerce. In its December meeting, the FOMC voted to cut the Fed's…

For a time, not too long ago, it was the central question animating economic forecasts and bets laid by investors in financial markets: Will the U.S. economy avoid a recession? Inflation, having calmed substantially, is still being eyed warily by the Federal Reserve, which began steeply raising interest rates in 2022 to combat price increases.

US Federal Reserve officials raised concerns in December that the fight against inflation may have "stalled" in recent months, and weighed the likely impact of Trump's trade policies, according to minutes of the meeting published Wednesday. The Fed's decision to cut rates to between 4.25 and 4.50 percent was not unanimous– an unusual occurrence– with Cleveland…

WASHINGTON- A top policymaker at the U.S. Federal Reserve said Wednesday that he still supports cutting interest rates this year, despite elevated inflation and the prospect of widespread tariffs under the incoming Trump administration. "My bottom-line message is that I believe more cuts will be appropriate," Waller said in Paris at the Organization for…

Jan. 8— DALLAS— The Federal Reserve Board of Governors has appointed Tracee Bentley of Midland to the Federal Reserve Bank of Dallas' El Paso Branch board of directors. Bentley is president and CEO of Permian Strategic Partnership, a collaboration between local communities, 26 oil and gas companies and two university systems operating in the Permian Basin.

U.S. stock indexes ended mixed after drifting between small losses and gains. Trading was relatively subdued a day after strong reports on the economy stirred up worries that inflation and interest rates may remain higher than expected. Reports on the economy came in mixed, and a top Federal Reserve official said he still expects rate cuts this year.

The effect of new tariffs under consideration by US President-elect Donald Trump is unlikely to be "significant or persistent," a senior Federal Reserve official said Wednesday. Trump has floated several proposals, including a plan for sweeping tariffs on all goods entering the United States– drawing criticism from many economists concerned about possible…