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President Biden used a rare meeting with Federal Reserve Chair Jerome Powell to declare that he’s respecting the central bank’s independence — while simultaneously shifting responsibility for taming decades-high inflation ahead of the November midterms.
May 31
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George's departure will come around the same time that Chicago Fed chief Charles Evans steps down. Both will have turned 65.
May 25
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After lying low for a couple of years, wealthy consumers are poised to unleash nearly a quarter-trillion dollars in a card-spending binge that only a COVID-19 resurgence could derail, according to Visa's chief economist, Wayne Best.
May 24
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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.
May 23
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The U.S. Department of Agriculture expects farm profits to drop by 8% this year due to multiple factors, creating credit quality questions for ag banks.
May 19
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The Federal Reserve will begin shedding as much as $47.5 billion of assets monthly starting June 1 to tamp down on inflation. But doing so could undermine the banking industry’s preferred source of liquidity.
May 17
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Banks report solid commercial and industrial loan demand, but are increasingly concerned about how soaring inflation and the specter of recession will affect their clients.
May 12
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Treasury Secretary Janet Yellen pointed to a recent implosion of the experimental TerraUSD stablecoin — which uses an algorithm rather than fiat currency pegging to maintain its value — as the latest evidence for urgently needed regulation in the sector.
May 10
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In “The Journey of Humanity,” the economics professor Oded Galor explores the complex question of why some countries have flourished while others continue to struggle.
May 10
American Banker -
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.
