Economic news

As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.

The President of the Federal Reserve Bank of New York Thursday morning said that another rate hike by the end of the year would be a "reasonable" expectation, depending on how economic indicators come in over the coming months.

The share of American households considered "financially vulnerable" rose to 17%, the highest level since at least 2018, according to the nonprofit Financial Health Network.

The U.S. economy is expected to keep growing despite nagging inflation, according to the latest consensus report from the American Bankers Association's Economic Advisory Committee.

If the Federal Reserve really wants to control inflation, it first needs to control people's expectations.

Looking past the headline numbers, there are reasons to be concerned about the condition of the U.S. economy. Particularly troubling is the fact that large numbers of Americans live financially precarious lives.

The commerce company has made major inroads into embedded finance, a strategy that could get a boost from partnering with the social media giant's new AI agent.

Bankers are largely downplaying the impact of the Federal Reserve's interest rate increase. Some said this week that the quarter-point hike could be good for near-term profitability.

Federal Reserve Chair Kevin Warsh framed the central bank's move to increase interest rates as a moderate adjustment to rapid economic growth during his post-Federal Open Market Committee press conference.

Federal Reserve Chair Kevin Warsh's third Federal Open Market Committee meeting is likely to be his most pivotal, with markets overwhelmingly expecting a rate hike and bond market yields rising to historic highs.

While Federal Reserve Chair Kevin Warsh has sought to inject some mystery into the central bank's communications with markets, an American Banker analysis shows that officials other than the chair have been speaking more and more frequently over the last few decades.

Anxieties over AI drew attention from Democrats and Republicans during Treasury Secretary Scott Bessent's testimony at the House Financial Services Committee.

The consumer price index rose 0.4% last month, in line with July's reading. For a monetary policy committee that has been split on inflation, the inconclusive report will compel the Fed to make a call on whether to raise interest rates or stay put.

Treasury Secretary Scott Bessent said the agency's long-dated Treasury bond buybacks are intended to improve liquidity on the long-dated end of the market rather than influence monetary policy.

A consumer inflation expectations survey released Tuesday showed households expect inflation to be 3% or higher through at least the next five years.

The U.S. economy added 162,000 jobs in August, bouncing back from a surprise decline in July. The Fed's next interest rate decision will still hinge on next week's inflation reading.

The Federal Reserve is committed to fighting inflation, but it also has to keep an eye on a jobs market that is slowly and steadily losing steam.

The Federal Reserve governor said an upcoming change to the personal consumption expenditures index could show ongoing improvement in prices, building the case for leaving interest rates unchanged.

Federal Reserve Bank of New York President John Williams said Wednesday that inflation expectations remain well anchored, suggesting a "wait-and-see" approach for monetary policy.

Markets are still pricing in an increase in the federal funds rate later this month, but Federal Reserve Gov. Michael Barr said his vote will depend on incoming unemployment and inflation data.