Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other items, the government said Wednesday in a report that will likely give pause to the Federal Reserve as it weighs when and by how much to cut interest rates this year
The Fed typically cuts only when the economy appears to be weakening and needs help. But with economic data looking strong – the commercial real estate sector aside – will its policymakers see a need to even cut at all?
With some investors and economists questioning whether the Federal Reserve can make good on interest rate cuts this year, the JPMorgan Chase CEO warned of the possibility of rates rising to 8 percent or higher.
When a bank borrower is in trouble, Tom Desmond gets a call. As the founder and managing partner at New England Consulting Partners, he helps middle-market companies rescue themselves and keep creditors whole.
New England’s first new mutual bank in 50 years is seeing strong growth after a little over 12 months in business.
America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their payrolls and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of high interest rates.
Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up recently.
The bank tied to the new leaseholders for Boston’s Quincy Market retail complex has filed to open its first location in Boston, among the applications by banks to open new branches last month.
Research shows when employees don’t have control over their work schedules, it’s not just morale that suffers – mental health takes a hit too.
North Shore Bank, based in Peabody, gave $20,000 to the Essex Community Foundation to support education, healthcare, economic development and social services initiatives. See who else gave back.
Roxann Cooke, one of the most prominent Black women in the Massachusetts banking industry, is leaving Boston. But she’s staying with JPMorgan Chase.
Santander Bank announced Wednesday morning that Swati Bhatia, formerly of Goldman Sachs’ Marcus banking unit, has taken over its retail banking arm.
Massachusetts residents send billions of dollars every year using money transmission platforms like Venmo, PayPal and CashApp – but with zero state consumer protections.
Coming from the world of government administration, Rafia Zahir-Uddin has helped JPMorgan Chase to organize significant community investments in Massachusetts as its vice president for corporate responsibility.
As banks experiment with new uses for AI, it’s showing up in some surprisingly old-fashioned ways in familiar places.
Berkshire Bank scored another high-ranking hire from the former Silicon Valley Bank and announced plans to relocate a downtown Boston branch to support its growing private banking team.
Boston will be one of five cities in five states to get Santander’s new experiment in stripped-down branch formats.
First Citizens Bank will finally plant its flag in Greater Boston roughly a year after buying Silicon Valley Bank following the latter’s March 2023 collapse.
In new quarterly projections they issued, Fed officials forecast that stronger growth and stubborn inflation would persist this year and next, meaning the central bank’s benchmark interest rate will stay higher for longer.
Two weeks ago, Chair Jerome Powell suggested that the Federal Reserve was “not far” from gaining the confidence it needed that inflation was headed sustainably down. It was a tantalizing suggestion.
