Consumer Credit Continues Growth in January

The University of Michigan Consumer Sentiment Index increased 15.9% in June compared to the month prior, landing at 60.5, according to preliminary results for the month.

When removing shelter costs from CPI calculations, underlying inflation trends appear softer and falls below the Federal Reserve's 2% inflation target.

Most U.S. banks are increasing their cybersecurity efforts because of emerging technologies such as generative artificial intelligence, and many of those same banks also list AI as a top business investment, according to a recent survey by auditing...

Senate Banking Committee Chairman Tim Scott (R-S.C.) said a proposal to prevent the Federal Reserve from paying interest to banks “is not a decision to be rushed” and must follow proper parliamentary procedure, Bloomberg Law reported.

The Senate granted unanimous consent to S. 1467, an ABA-advocated bill that would would prevent credit reporting agencies from selling so-called mortgage trigger leads to lenders in most circumstances.

The Producer Price Index for final demand edged up 0.1% in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices declined 0.2% in April and 0.1% in March.