Economy

The Bethesda, Maryland-based company called its success in luring a team from Capital One as its most "newsworthy" move to date executing a strategy aimed at diversifying its lending operation.

In a Wednesday morning speech, the Federal Reserve Gov. Christopher Waller said President-elect Donald Trump's nascent trade policy will likely lead to a one-time jump in prices rather than broader inflationary pressure. He also said he expects further interest rate cuts in 2025.

Reading Cooperative's combination with Wakefield Cooperative, the third deal involving Boston-area banks announced in the past month, would create a $1.2 billion community bank.

The gulf between what small businesses need and what banks are providing could be an opportunity for bankers.

In their new book, "The New World Economy in 5 Trends," Koen De Leus and Philippe Gijsels predict a future in which neutral interest rates are higher, technology is transformative and the urgency of climate-change adaptation creates investment opportunities.

Bill Ackman, founder of Pershing Square Capital Management, predicts Fannie Mae and Freddie Mac will be removed from conservatorship within the next two years.

The Freddie Mac mortgage rate tracker on Thursday morning showed the conforming 30-year fixed rate mortgage creep closer to the 7% level last seen in May.

The custody bank achieved its goal for the amount of deposits it placed into minority banks and community development financial institutions by the end of the year.

Releasing the GSEs from government conservatorship is on the agenda for the incoming Trump administration. Doing so could threaten the 30-year fixed rate mortgage.