Economic news

The Minneapolis-based bank will issue the cards, and Mastercard will act as the network provider. American Express formerly ran the e-commerce giant's business credit card programs.

Federal Reserve Chair Jerome Powell said the central bank is cautiously monitoring consumer sentiment as tensions from the Iran war push energy prices higher, complicating efforts to bring inflation down to the Fed's target.

Two former members of the Federal Open Market Committee said in interviews that they expect the Federal Reserve to keep rates steady amid uncertainty over the ongoing war with Iran and the resulting upward pressure on inflation.

The latest rise in property tax collections at the end of last year continued a nine-quarter streak of increases, according to the National Association of Home Builders.

In three separate appearances Thursday, Fed Gov. Lisa Cook, Gov. Michael Barr and Vice Chair Philip Jefferson said they are worried that U.S. involvement in the war with Iran could drive up inflation, leading them to conclude that interest rates should remain steady in the near term.

Federal Reserve Gov. Stephen Miran on Thursday detailed a plan to reduce the central bank's balance sheet, saying a smaller footprint would reinforce policy boundaries but could also bring more market volatility.

Federal Reserve Gov. Michael Barr said in a speech Tuesday afternoon that he wants to see a durable and reliable reduction in consumer price inflation before he considers cutting the central bank's interest rates.

José Torres, senior economist at Interactive Brokers, breaks down the FOMC decision and Fed Chair Jerome Powell's press conference.

There were an estimated 630,000, or 46.3%, more home sellers than buyers in the United States in February, according to a Redfin report.

Federal Reserve Gov. Stephen Miran said it is too early to judge how U.S. involvement in the war with Iran will affect inflation and monetary policy.

Federal Reserve Chair Jerome Powell, in a post-FOMC meeting Wednesday, said he intends to stay at his post until a successor has been confirmed, adding that he will remain on the Fed board until a Justice Department investigation into him is concluded.

The Federal Open Market Committee is widely expected to keep rates unchanged, but all eyes will be on Federal Reserve Chair Jerome Powell's commentary about the economic impacts of the Iran war and its longer-term impact on inflation.

It won't be long before the ongoing closure of the Strait of Hormuz begins to make itself felt across various aspects of banks' balance sheets. If it's protracted, a new oil shock will force a major reassessment of asset values.

Americans 70 years or older held 26% of the United States' $48 trillion in real estate wealth in the third quarter of last year, Redfin said.

The Federal Open Market Committee is widely expected to keep interest rates steady when it concludes its regular meeting tomorrow, but rising uncertainty about inflation in the wake of the Iran war is clouding the monetary policy outlook.

A federal judge wrote in an opinion that a "mountain of evidence" suggests the subpoenas were an effort to push Federal Reserve Chair Jerome Powell to lower interest rates or resign.

Residents in more than half of U.S. counties need greater than one-third of income to successfully manage major housing costs, according to new Attom research.

New research sheds light on the real causes of bank failures; and the economic numbers aren't adding up to a recession, yet.

Chief economists at large and regional banks predicted ongoing inflation, in part because of the anticipated surge in oil prices as a result of the Iran war. The forecast from the American Bankers Association's Economic Advisory Committee did not account for the disappointing U.S. jobs report on Friday.

The Bureau of Labor Statistics reported that the economy lost 92,000 jobs in February while unemployment held steady at 4.4%, a development that could spur the Federal Reserve to question whether interest rates are truly in balance.