The housing market is unlikely to recover this year, but the economy could rebound as early as next year, said Charles Plosser, the president of the Federal Reserve Bank of Philadelphia.
"I believe the most likely outcome is that economic growth will return toward trend in 2008," Mr. Plosser said in a speech on Saturday, adding that the Fed will not bail out lenders.
"The Fed does not seek to remove volatility from the financial markets," he said.
The top five banks and thrifts have combined total assets of nearly $13 trillion.
The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
In a letter to Treasury Secretary Janet Yellen last week, the Massachusetts senator highlighted the growing use of cryptocurrencies by malicious organizations abroad and underscored the need for anti-money-laundering and counterterrorism provisions in future proposals.
Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth.
The banking-as-a-service middleware provider will be acquired by TabaPay. Other middleware providers may be forced to evolve or face the same fate.
Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.
