Fintech

Barwick Banking Co. will have the wherewithal to accelerate its expansion in Georgia and Florida after a $50 million investment from a new venture capital platform.

Federal Reserve Governor Stephan Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction.

In her first public appearance since President Trump moved to fire her from the Federal Reserve Board of Governors, Fed Gov. Lisa Cook reiterated her commitment to bringing inflation under 2% and said that the labor market remains "solid."

As the political dispute drags on, there are implications beyond government disbursements, potentially harming corporate cash positions and the larger economy, according to payment experts from Billtrust and research firms.

During Thursday's earnings call, CEO Michael Miebach said the payment company is partnering with large technology firms and offering consulting for the emerging form of artificial intelligence, attempting to expand a strategy to draw revenue beyond card processing.

The Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain.

The Federal Reserve's interest rate-setting body is expected to announce a 25 basis point cut and provide guidance on the trajectory of its balance sheet Wednesday afternoon.

The Federal Open Market Committee is expected to announce guidance on the end of its quantitative tightening program later Wednesday. As that process draws to a close, experts are questioning when and how the central bank should use its balance sheet to smooth economic stress in the future.

A national bank charter will help UBS Bank USA to expand offerings for wealth management clients, according a company memo.