Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
The ranking Democrat on the Senate Banking Committee said growing uncertainty and risks in the financial system mean the central bank should increase the countercyclical capital buffer for the nation's largest lenders.
A federal judge in North Dakota found that the Federal Reserve's rules capping interchange fees runs afoul of the Durbin Amendment section of Dodd-Frank, vacating the rule unless the central bank decides to appeal the decision. The decision carries implications not only for swipe fees but also how and when banking regulations can be challenged.
The regional Fed bank president said in a speech Thursday higher import taxes will result in price pressure for companies of all sizes, but that small businesses will have a harder time avoiding or eating those costs, leaving them no choice but to pass them on to the consumer.
Federal Reserve Board member Lisa Cook said artificial intelligence will be transformative, but cautioned government officials not to assume that gain in AI technology will offset inflationary pressure elsewhere arising in the economy.
The president said he would soon announce a replacement for departing Fed Gov. Adriana Kugler, adding that it's a "possibility" that his selection for that seat on the Federal Reserve Board will be tapped as the next Fed Chair.
The removal of the commissioner of the Bureau of Labor Statistics is unlikely to change government data practices in the near term, experts say, but the perception of interference will have a big effect on the credibility of government economic metrics going forward.
The President's Work Group on Digital Assets released a report calling for changes to the central bank's master account policies. The reforms could make it easier for digital asset groups to access the federal payments system.
The Federal Reserve governor's term was set to expire in January and President Donald Trump has made it clear that she would not be reappointed. The vacancy will give Trump an opportunity to appoint someone new to the central bank's board.
Federal Reserve Chair Jerome Powell said during his regular press conference Wednesday that the process of determining tariff-related price increases was always going to be slow, but it has taken longer than he expected.
The Federal Reserve's monetary policy committee is expected to leave interest rates unchanged again Wednesday amid reports of renewed economic growth in the second quarter and despite ramped up pressure from the White House to cut rates.
The legislation would direct the department to assess the federal government's ability to respond to a host of systemic challenges including war, pandemic and financial crisis.
Monetary policymakers have held off on lower interest rates for months, citing the risk of tariff-induced inflation. Several now say this week's CPI and PPI reports confirmed their suspicions.
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency proposed a rule that would revert the anti-discrimination framework to its 1995 standards.
Federal Reserve Gov. Michael Barr said Wednesday that policymakers are running the risk of repeating historical mistakes of lightening banking rules when the economy is doing well, which he said has often set the stage for financial crises later on.
Luke Pettit, a Senate Banking Committee staffer, will serve as the Treasury Department's next assistant secretary of financial institutions.
The Federal Reserve governor said the uptick in buy now pay later repayment issues is likely a sign that consumers don't understand the terms of the emerging credit offering.
The Federal Reserve and Office of the Comptroller of the Currency terminated enforcement orders against Industry Bancshares and its subsidiaries. The banks were considered prime examples of interest rate risk management gone awry.
Federal banking regulators outlined considerations for safely handling digital assets in a new guidance published Monday, which replaces prior statements on crypto that were withdrawn earlier this year.
Federal Reserve Gov. Christopher Waller said that criticisms of the Fed's balance sheet and calls to return to a scarce reserves system are misinformed, saying that much of the central bank's balance sheet is the result of activities outside the Fed's control.
The Federal Reserve Thursday issued a proposal that would allow banks to be considered "well managed" even if they are found to be deficient in their governance and controls.