Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s officials want to see where it heads next.
Banks are still on the defensive when it comes to lending, due to high interest rates but middle-market commercial and industrial lending is one area that local banks are looking to for growth this year.
Community banks in the Northeast are the most pessimistic about the economy of anywhere in the nation, according to a new survey.
The warnings have been sounded for more than a year: A recession is going to hit the United States. If not this quarter, then by next quarter. Or the quarter after that. Or maybe next year. So is a recession still in sight?
The World Bank has sharply downgraded its outlook for the global economy, pointing to Russia’s war against Ukraine, the prospect of widespread food shortages and concerns about the potential return of “stagflation” – a toxic mix of high inflation and sluggish growth unseen for more than four decades.
Consumers saw how hard small businesses were hit by the COVID-19 pandemic and now – as they resume in-person shopping and sit-down dining – it appears they want to help.
After months of robust hiring, U.S. employers might have pulled back slightly in May, to levels that would still be consistent with a healthy job market, despite high inflation and rising borrowing costs.
Federal Reserve officials agreed when they met earlier this month that they may have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which is near a four-decade high.
Strong economic activity in the commonwealth has allowed the state to maintain a high credit rating. But this could change if the cycle turns and Massachusetts doesn’t get a handle on its debt.
Commercial real estate owners looking to hedge interest rate risk are often asked to purchase derivatives and other financial products blindly.
Employers in Massachusetts felt more optimistic about the state’s economic outlook in September than they have all year.
Contracts to buy previously owned homes fell more than expected in August to their lowest level in about 1-1/2 years as the housing market continues to be sapped by a shortage of inventory that is also pushing up home prices.
Those damn kids are at it again, turning up their noses at stability, refusing to accept their own culpability and taking advantage of government subsidies to buy houses.
It’s good to be at the top – and for as much regulation and uncertainty as the banking industry faces, a healthy economy and the mass migration of Baby Boomers into retirement could set up some attractive career opportunities for younger bankers in the not-too-distant future.
The overall economic growth of New England in 2016 mirrored that of the U.S., according to a presentation by the New England Economic Partnership (NEEP) at its annual Economic Outlook Conference, held yesterday at the Federal Reserve Bank of Boston.
The rumblings have begun across the nation that the U.S. is headed for another recession.
