The amount of money parked at a major Federal Reserve facility climbed to yet another all-time high, surpassing the $2 trillion milestone for the first time, as investors struggled to find places to invest their cash in the short term.  

Wall Street lenders are calling on the U.S. government to hold off on launching a digital dollar, arguing that a virtual currency backed by the Federal Reserve risks draining hundreds of billions of dollars out of the banking system.

Corrigan thrived on crisis situations, a colleague said. He received plenty of practice in 25 years at the Fed and another two decades at Goldman Sachs.

The Biden administration’s pick for Federal Reserve vice chair for supervision faced questions about climate change, digital assets and the central bank’s independence. But he did not meet the same resistance from Republicans as the White House’s first choice, Sarah Bloom Raskin, observers said.

The central bank has a long history of diluting the effectiveness of the Community Reinvestment Act.

The Senate voted 80-19 Thursday to confirm Powell to the top spot on the Federal Reserve Board of Governors. He joins Philip Jefferson, who was confirmed by the Senate to serve on the board Wednesday night, and Lisa Cook, who was confirmed Tuesday night.

The Michigan State University economist endured a grueling political fight over her nomination and secured a party-line vote in her favor on Tuesday night. 

Roughly 24,000 people had new foreclosures listed on their credit reports in the first quarter, up from about 9,000 three months earlier, a Federal Reserve Bank of New York report says. States are trying to cushion the blow on homeowners now that many pandemic-related federal protections have ended.

The Federal Reserve governor said it isn't the central bank’s place to set regulations for specific risk scenarios, and he downplayed the risk that climate change poses to financial stability.

Senate Democrats plan to hold votes to confirm Lisa Cook’s nomination to be a Federal Reserve governor on Tuesday, they announced Monday night.

The Federal Reserve's semiannual financial stability report identified the conflict in Eastern Europe as the source of several key risks. Overall, it assessed the banking sector as more resilient than six months ago.

In its semiannual supervision and regulation report, the central bank cited strong balance sheets and liquidity but found risks for smaller banks.

The Federal Open Market Committee started its hiking cycle in March and everyone expects another increase when it meets May 3-4. Speculation is the FOMC will lift rates a half-point at that meeting. Steve Skancke, chief economic adviser at Keel Point and former White House and Treasury Department staff member, will discuss the FOMC decision and the panel’s next steps in fighting inflation.

While some American lenders have started to exit the region, the overall impact on their operations has been moderate, the central bank said in its semiannual Supervision and Regulation Report.

He faces critics from both the left and the right, which is why he’s the right person for the job.

The chances of an economic slowdown are rising as the Federal Reserve is poised to take further steps to tame inflation, say the heads of JPMorgan Chase, Bank of America and Morgan Stanley.

Former Federal Reserve vice chair for supervision Randal Quarles delivered his strongest rebuke yet to the idea that the U.S. needs a central bank digital currency to avoid falling behind other countries, calling the argument one "you expect from a 17-year-old, but not from a central bank."

The Fed waited too long to address inflation. Now we can expect higher borrowing costs as well as inflation.

Senate Banking Committee Chairman Sherrod Brown said Wednesday that the Senate would wait to confirm President Biden’s Federal Reserve picks until the return of Democrats recovering from the coronavirus.

In “The Lords of Easy Money,” the journalist Christopher Leonard examines the Federal Reserve’s policy of quantitative easing following the 2008 financial crisis.