Senate Banking Committee Advances Carson Nomination

Kevin Warsh appeared before senators today at an often confrontational hearing on his nomination to be Federal Reserve chairman, where he pledged to be independent while accusing the Fed of eroding public trust by straying from its mission.

The March increase in pending home sales is reflective of increased inventory and pent up demand despite higher mortgage rates.

Advance estimates of U.S. retail and food services sales for March were $752.1 billion, up 1.7% from the previous month, and up 4% from a year ago, according to the U.S. Census Bureau.

An independent supervisory appeals process at the OCC would serve as a crucial backstop to support and promote fair and consistent supervision, ABA said.

Nebraska lawmakers have passed legislation requiring social media companies to take steps to detect and remove fraudulent advertising on their platforms.

OFAC reauthorized Russian oil exports through May 16 to ease economic pressure from rising fuel prices due to military operations in Iran.