Wall Street Bank Bosses Warn Lawmakers of Economic Toll From Tough New Rules
The top bosses of JPMorgan, Morgan Stanley, Goldman Sachs and other major banks warned lawmakers Wednesday that capital hikes and other new regulations being contemplated by U.S. bank regulators will hurt lending, capital markets and the broader economy.
Bank of America, Deutsche Bank Predict Interest Rate Cuts in 2024
Bank of America (BOA) and Deutsche Bank (DB) both released outlooks Monday predicting the Federal Reserve will implement interest rate cuts next year
Leading Indicators Continue to Signal a Recession
A gauge of future economic activity declined in October, after falling in September, on worsening consumer expectations, the Conference Board reported on Monday.
Fed Holds Interest Rates Steady For Second Meeting In A Row—As Rate Hikes Weigh On Markets
The Federal Reserve again decided to keep interest rates at the same level, the central bank announced Wednesday, though rates remain at their highest level since 2001, causing sweeping effects on the economy.
Why America's Deficit Doubled to $2 Trillion in One Year
The United States government will run a deficit of around $2 trillion, double last year's number, for the fiscal year that ends in just over three weeks.
U.S. Consumer Spending Accelerates, but Declining Savings a Concern
U.S. consumer spending increased by the most in six months in July as Americans bought more goods and services
Fed, Economists Make Course Correction on U.S. Recession Predictions
The first two quarters of 2022 had seen U.S. economic output contract at a 1.6%
Private Sector Added 324,000 Jobs in July, Well Above Expectations, ADP Says
Private sector companies added far more jobs than expected in July, pushed higher by a boom in leisure and hospitality jobs, payroll processing firm ADP reported on Wednesday, August 2.
Morgan Stanley Raises Economic Growth Forecast, Citing Biden Infrastructure ‘Boom’
Morgan Stanley raised its economic growth forecast up this week, citing a "boom in large-scale infrastructure" driven by President Biden’s Infrastructure bill, according to reports.
Will Cooling Inflation Help Sell Bidenomics?
U.S. annual inflation slowed to 3% last month, according to the latest Consumer Price Index released Wednesday by the Bureau of Labor Statistics.
U.S. Inflation Unlikely to Fall to the Fed's 2% Target until at Least 2025, According to Jerome Powell
The Fed chairman's remarks on Friday suggested the central bank's fight against inflation is far from over – raising the possibility that policymakers will keep raising interest rates until price pressures cool further.
Federal Reserve Holds Interest Rates Steady, Forecasts Two More Rate Hikes This Year
The Federal Reserve held interest rates steady on Wednesday, June 14, but FOMC officials signaled they are prepared to raise rates again this year in due course to keep the fight against stubborn inflation.
U.S. Jobless Claims Tick Up, Still Show Strong Labor Demand, but Mostly for Low Skill Labor
Applications for U.S. unemployment benefits rose slightly last week to a level that’s still consistent with resilient demand for labor.
Fed Minutes Show Powell Wants To Keep Rate Hike Options Open, But Path Remains Uncertain
Federal Reserve officials stressed the need to keep their options open on future rate hikes, minutes from the central bank's May policy meeting indicated Wednesday, but hinted that if the economy performs as expected, further increases might not be necessary.