Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits.
Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed’s efforts so far to tame it.
A confluence of factors – the expiration of federal stimulus checks and surging inflation on staples like gas and food – are driving an even bigger wedge between the haves and have-nots.
The Fed the FDIC and the OCC recently released proposed guidance to help banking organizations manage risks associated with third-party relationships, including relationships with fintechs.
U.S. regulators on Wednesday proposed simplifying a rule introduced after the 2007-2009 financial crisis that bans banks from trading on their own account in order to make compliance easier for many firms.
Traders of U.S. short-term interest-rate futures continued to bet the Federal Reserve would raise interest rates just two times this year after a U.S. government report showed employers added fewer jobs than expected in December, even as wages picked up.
U.S. consumer spending recorded its biggest increase in four months in April and monthly inflation rebounded, pointing to firming domestic demand that could allow the Federal Reserve to raise interest rates next month.
The Federal Reserve is expected to raise interest rates for the second time in three months on Wednesday, encouraged by strong monthly job gains and confidence that inflation is finally rising to its target.
The number of Americans filing for unemployment benefits last week rebounded from a near 44-year low, but the labor market continues to tighten amid a sharp drop in job cuts in February.
U.S. retail sales fell more than expected in August amid weak purchases of automobiles and a range of other goods, pointing to cooling domestic demand that further diminishes expectations of a Federal Reserve interest rate increase next week.
Goldman Sachs has reduced its expectation that the Federal Reserve will raise interest rates at its September meeting, citing weaker-than-expected economic growth and the lack of clear signals from a senior Fed official on Tuesday.
The Fed will very likely interest rates in June, according to Richmond Fed President Jeffrey Lacker.
