Economic news

Just as the United States is getting good news in its war against inflation, the picture is very different across the pond. Some of that is bad luck, but there are lessons on what not to do as well.

Bond traders have overestimated month-over-month headline inflation heading into four of the last seven Consumer Price Index releases, says strategist Raghav Datla.

Widespread adoption of a central bank digital currency would utterly transform the financial services sector by reducing access to loans and raising prices for consumers.

Old National relocates Louisville office following mass shooting in April, American Express brings back $1 million in grants for historic eateries, Adyen speeds payouts for gig workers and more in this week's banking news roundup.

Once it is free to issue new debt, the Treasury Department is expected to quickly replenish its general account at the Fed. The move could lead to a shortage of reserves.

The banking industry, which has been contending with deposit outflows, could get a short-term boost from spooked investors. But once the White House and House Republicans reach a deal on raising the debt ceiling, the pressure on deposits may resume, analysts say.

The Federal Reserve Board governor said secular increases to the currency supply limits how much the central bank can shrink its holdings.

The banking giant plans to put all asset managers through training in Python programming language, whether they 'like it or not.'

"If the banking stresses start to bring inflation down for us, then maybe we're getting closer to being done. I just don't know right now," said Federal Reserve Bank of Minneapolis President Neel Kashkari.

The CEOs of the nation's largest banks met with officials in Washington on Wednesday and Thursday, just two weeks before the government is expected to go broke. Behind the scenes, the banks are reviewing contingencies in case the unthinkable occurs.

During the pandemic, many banks adopted programs that helped struggling families find stability. Make that a permanent strategy.

The FOMC meets June 13-14. Join us June 15 at 2 p.m., Eastern time, as Jeffrey Cleveland, chief economist at Payden & Rygel, provides his take on the meeting statement, Federal Reserve Board Chair Jerome Powell's press conference and the latest Fed projections.

The Federal Reserve meeting May 2-3 will be closely watched for hints about what the FOMC's next move is. Join BNP Pariba U.S. Economist Yelena Shulyatyeva at 11 a.m. May 4 as she takes a look at the meeting and Chair Powell's press conference.

Investors argues in suit that Jamie Dimon and other executives risked the bank's reputation in their dealings with the disgraced financier.

Levels of concern rise above where they were during the 2008 financial meltdown.

Millennials and Generation Z will soon become the principal financial consumers. Which companies and products are on track to win their business, and which ones are in danger of going extinct?

The bank continues to relocate staff following a pause during Covid-19 and is also in the process of moving some products, she said.

Morgan Stanley's investment bank and its giant wealth unit surpassed analysts' expectations in the first quarter even as profits fell from a year earlier, dragged down by a drop-off in dealmaking and a jump in loan-loss provisions.

Richmond Federal Reserve Bank President Thomas Barkin said he wants to see more evidence that U.S. inflation is easing back to the central bank's goal of 2%.

The largest U.S. bank by assets raised its forecast for net interest income in 2023 to $81 billion from $74 billion, a positive sign for investors wondering how an economic downturn might weigh on profits.