Newsbytes

Consumer Sentiment Held Strong in May

Consumer Sentiment increased 0.1 point in May to 97.1, according to the University of Michigan Consumer Sentiment Index. The Current Economic Conditions Index fell 1.0 point to 111.7, while the Consumer Expectations Index rose 0.7 point to 87.7. “Consumer sentiment has continued to move along the high plateau established following Trump’s election. The final May figure was virtually unchanged from ...

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Durable Goods Orders Decreased in April

New orders for manufactured durable goods decreased 0.7% in April to $231.2 billion, following a 2.3% March increase, according to the U.S. Census Bureau. New orders excluding defense fell 0.8% on the month, as orders of nondefense capital goods decreased 1.9% to $70.4 billion. Shipments of manufactured durable goods decreased 0.3% to $233.0 billion. Inventories of manufactured durable goods rose ...

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First Quarter GDP Revised up to 1.2%

Real GDP for the First quarter of 2017 grew at a seasonally adjusted annual rate of 1.2%, according to the Bureau of Economic Analysis’s revised estimate, up slightly from the advance estimate of 0.7%. The general picture of economic growth remained the same. The increase in the estimate was mostly due to nonresidential fixed investment and personal consumption expenditures being ...

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ABA: Proposed HMDA Changes Warrant Further Discussion

In a comment letter today, the American Bankers Association provided feedback on the Consumer Financial Protection Bureau’s proposed technical changes to the data lenders are required to collect and report under the final Home Mortgage Disclosure Act Rule (Regulation C).

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Watchdog Dings CFPB for Website Security ‘Deficiencies’

Despite steps to improve it, the Consumer Financial Protection Bureau’s website has several “control deficiencies” that must be “mitigated to protect the website from compromise,” according to a report today from the Federal Reserve’s independent inspector general, which audits CFPB activity.

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FOMC Articulates Continued Rationale for Gradual Rate Rise Plan

The Federal Open Market Committee yesterday released minutes illuminating its rationale at its May 2-3 meeting for holding the target federal funds rate at 0.75 to 1 percent but sticking to a plan for gradual rate increases throughout the year. The unanimous decision came in light of accelerating economic growth, which followed a notable slowing that prompted the committee to ...

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