Fed will meet on May 30 to consider proposal to modify ‘Volcker Rule’
The Federal Reserve will consider a proposal to modify the “Volcker Rule” banning proprietary trading by banks at a May 30 meeting of its board, the central bank announced Wednesday. Federal regulators are expected to announce changes easing some of...
Fed indicates it will let inflation run above 2 percent goal for ‘temporary period’
Federal Reserve officials would be content to let inflation briefly run above their 2 percent target as the economy continues to recover, according to minutes from the central bank’s most recent meeting. Following the May 1-2 session, the policymaking Federal...
The US has more than 5,600 banks. Consolidation is coming
The US’s banks have largely sat out the mergers and acquisitions wave of recent years. While deal records have fallen in almost every other sector, big banks have done almost nothing, shrinking rather than expanding. And merger activity among small...
Bank regulatory rewrite headed to Trump’s desk hands a victory to small and regional lenders
Small and regional banks are the big beneficiaries of the House-approved bank regulatory relief bill making its way to President Trump’s desk for signature this week The bill, which passed the House Tuesday evening by about 100 votes, cuts dozens...
Five things that could move the markets in the Fed’s minutes release today
The Federal Reserve will release minutes Wednesday from its meeting in early May that did not see an interest rate increase but apparently did feature some important in-depth discussion about the future of monetary policy. That may not sound very...
New home sales fall less than expected in April
Sales of new U.S. single-family homes fell less than expected in April, but data for the last three months was revised lower. The Commerce Department said on Wednesday new home sales dropped 1.5 percent to a seasonally adjusted annual rate...
Americans face high gas prices, crowded roads this Memorial Day weekend
If you plan to hit the roads this Memorial Day weekend, get ready to pay more at the pump. Gas prices are poised to be the highest for the holiday weekend since 2014, according to travel organization AAA. Those prices...
Weekly mortgage refinances drop to an 18-year low as rates jump
A sharp rise in interest rates last week meant far fewer homeowners could benefit from a mortgage refinance. That was the primary driver behind a 2.6 percent drop in total mortgage application volume last week, according to the Mortgage Bankers...
Investors should ‘absolutely’ own mainland China assets: Bank Julius Baer
Jitters over U.S.-China trade tensions might have spooked markets earlier this year, but that doesn’t mean investors should shy away from mainland Chinese assets, Mark Matthews, head of Asia research at Bank Julius Baer, told CNBC on Wednesday. “I think...
Public sector assets saw a record $2.5 trillion surge in value last year
A global economic upswing helped the value of assets at central banks, sovereign funds and public pension funds hit $38.7 trillion in 2017, according to new research by London-based think tank OMFIF. That was a 7 percent rise of $2.5...
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