The sharpest run-up in rates seen in over three decades slashed mortgage origination volumes, and contributed to a volatile market environment, but had some cyclical benefits for servicing.

The legislation, co-sponsored by six other Republicans, would apply federal lobbying and vacancy rules to regional Federal Reserve banks and close seven of the 12 existing banks.

In a joint review published Friday, the Federal Reserve and Federal Deposit Insurance Corp. found problems with two foreign banks' bankruptcy resolution plans.

Many believe the Federal Reserve will slow down rate increases beginning in December.. Steve Friedman, senior macroeconomist at MacKay Shields, will join us the day after the meeting to discuss what was done and what he expects in the future.

The Federal Reserve raised its benchmark interest rate by half a percent this week, but chair Jerome Powell said the question now is how long to keep monetary policy tight.

The ranking Republican on the Senate Banking Committee discusses his bid to bring transparency to the Federal Reserve, partnering with Elizabeth Warren and what's next for his career.

Sens. Elizabeth Warren, D-Mass., and Pat Toomey, R-Pa., have joined forces to subject regional Fed banks to heightened public scrutiny. How long the coalition lasts depends on what that new scrutiny reveals.

The central bank's governing body said a limited disclosure would satisfy its obligations under administrative law. The Kansas City Fed, meanwhile, would be subject to full discovery.

The high-profile members of the Senate Banking Committee have joined forces on legislation that would subject the Federal Reserve's 12 regional banks to the Freedom of Information Act and other disclosure mandates.

Sen. Pat Toomey, who is retiring from his post as the top Republican on the Senate Banking Committee, attached a provision to the bill that would force the Fed to disclose account holders and applicants.

A group of Hispanic lawmakers urged the Federal Reserve to appoint its first-ever Latino as a regional president after recent searches for the top roles at three other district banks resulted in the hiring of non-Latino candidates.

U.S. Sen. Elizabeth Warren wants an accounting from Federal Reserve Chair Jerome Powell and other top bank watchdogs on the links that major lenders have with the crypto industry following FTX's spectacular collapse.

The Federal Reserve terminated a 2016 agreement with the Industrial Bank of Korea and its New York branch for processing more than $1 billion in sanction-violating transactions.

Banks are starting to have a tougher time obtaining funds in the financial system as the Federal Reserve shrinks its balance sheet and hikes interest rates, leaving analysts searching for any signs that the strains are approaching the magnitude of past credit crunches.

The Federal Reserve Board of Governors said it only needs to disclose records about its decision making process, but Custodia says the central bank is playing by its own rules.

The Federal Reserve Board of Governors voted 6-1 to seek public comment on a new regulatory framework for climate-related financial risks. The requirements would add to existing risk management standards.

Federal Reserve Vice Chair for Supervision Michael Barr said his "holistic" review of capital standards is still underway, but noted the benefits of stronger requirements in a speech Thursday.

The Federal Reserve's campaign to tighten financial conditions has resulted in notably increased borrowing by U.S. banks at the central bank's discount window, normally a last-resort funding source.

University of Chicago economist Austan Goolsbee previously served as chair of the White House Council of Economic Advisers during the Obama administration.

Dianne Dobbeck, head of the Federal Reserve Bank of New York's supervision group, said the banking system is sound, but potentially destabilizing risks must be monitored and addressed.