Newsbytes

ABA Applauds Postal Reform Legislation

ABA and the Financial Services Roundtable wrote to leaders of the House Committee on Oversight and Government Reform today to express support for the Postal Service Reform Act of 2016, a bipartisan bill introduced by Committee Chairman Jason Chaffetz (R-Utah) and Ranking Member Elijah Cummings (D-Md.).

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Housing Starts Rose in February

Housing starts rose to a seasonally adjusted annual rate of 1.288 million in February, 3.0% above the revised January rate of 1.251 million, and 6.2% above the February 2016 rate. Housing activity increased in only one out of the four regions as the West saw housing starts jump 35.7%. The Northeast, Midwest, and South experienced declines of 9.8%, 4.6%, and ...

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Fed Raises Rates for First Time in 2017

The Federal Reserve Open Market Committee (FOMC) voted to raise the target range for the federal funds rate by 25 basis points to 0.75 to 1 percent. The vote was near unanimous, with Minneapolis Fed President Neel Kashkari casting the only dissenting vote, wanting to hold rates steady. The projected policy path for the federal funds rate was in line ...

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