Randal Quarles, President Donald Trump's nominee for the Federal Reserve Board, says he likes a predecessor's ideas for where regulators should prune banking rules. At his Senate confirmation hearing, Quarles … Click to Continue »
Randal Quarles, President Donald Trump’s nominee for Federal Reserve Vice Chair of Regulation, a position created after the financial crisis, took a lot of heat from Senator Elizabeth Warren in a hearing Thursday for what she described...Show More Summary
The Kansas City Federal Reserve Bank said that manufacturing activity expanded for the eighth straight month and continued to expand at a modest pace in July. With that said, the... The post Kansas City Fed: Manufacturing Activity Continued to Expand Modestly in July appeared first on Shopfloor.
From the Kansas City Fed: Tenth District Manufacturing Activity Expanded ModeratelyThe Federal Reserve Bank of Kansas City released the July Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the...Show More Summary
U.S. banking rules must protect the financial system but they need “some refinement,” President Donald Trump’s nominee for the Federal Reserve’s top regulatory post told lawmakers on Wednesday. “As with any complex undertaking, after the first wave of reform, and with...
Elliott Management Corp Founder Paul Singer stepped up his criticism of the unprecedented monetary stimulus unleashed by the Federal Reserve and other major central banks in Europe and Asia in the wake of the financial crisis, arguing...Show More Summary
Think of it as a really, really gradual pace. Federal Reserve officials appear to be warming up to the notion that a decline in inflation away from the central bank’s 2% target might turn out to be more entrenched rather than "transitory,"...Show More Summary
The Richmond Federal Reserve Bank's manufacturing composite index rose from 11 in June to 14 in July — the result of a slight increase in the measures of new orders and employment. Manufacturing executives remained generally optimistic about activity six months ahead. READ MORE www.metrointel.com
The Richmond Federal Reserve Bank said that manufacturing activity in its district expanded more strongly in July, with activity accelerating to a 3-month high. The composite index of general business... The post Richmond Fed: Manufacturing Activity Expanded More Strongly in July appeared first on Shopfloor.
After tightening monetary policy last month for the second time this year, the US central bank is expected to pause for the next few months to monitor developments. The Federal Reserve will leave the benchmark interest rate untouched...Show More Summary
President Trump is reportedly considering naming economic advisor Gary Cohn, former president of Goldman Sachs, to head the Federal Reserve. His appointment would make the Fed the third major world central bank currently led by a former...Show More Summary
The Federal Reserve’s Community Advisory Council (CAC), created two years ago to counter criticism that the central bank was overly dominated by banking and corporate interests, has offered a rather somber assessment of the economy that...Show More Summary
The Federal Reserve Bank of Philadelphia said that manufacturing activity continued to expand strongly in July. With that said, the composite index of general business activity decreased from 27.6 in... The post Philly Fed: Manufacturing Continued to Expand Strongly in July appeared first on Shopfloor.
As noted before, the Federal Reserve’s Beige Book collection of local bank district anecdotes are fascinating for all the wrong reasons. What is revealed is not the state of the economy, but rather the state of how policymakers perceive or often wish the economy was at various points. Show More Summary
Flooding last week destroyed all the cash in the vault of a southeastern Wisconsin bank. Fox River State Bank president Keith Polleck won't disclose exactly how much money was ruined, but he says the Federal Reserve will have to replace every dollar, the AP reports. Polleck toells WISN-TV that the...
The Economics of Subsidizing Sports Stadiums by Scott A. Wolla Federal Reserve Bank of St. Louis, May 2017 “The idea that sports is a catalyst for economic development just doesn’t hold water.” —Robert Baade, sports economist Professional sports give people pride and a sense of community. Show More Summary
The Bank of Japan is finally acknowledging something that Federal Reserve policy makers like San Francisco Fed President John Williams acknowledged months ago, when he published a paper highlighting the growing disconnect between the tightening labor market and consumer prices. Show More Summary
While in London recently at an exchange with British Academy President Lord Nicholas Stern, Federal Reserve Chair Janet Yellen really let the cat out of the bag. She told Stern that banks are now "very much stronger," with another financial...Show More Summary
French bank BNP Paribas has agreed to pay a $246 million fine as part of a settlement with the Federal Reserve over allegations that bank employees manipulated currency markets. The … Click to Continue »
Federal Reserve Chair Janet Yellen needs to get her story straight. Yellen faced a tough grilling on the central bank’s ethics and communications policies during congressional testimony from Rep. Ann Wagner. Wagner laid out a numberShow More Summary