New York Fed study examines media role in 2023 bank failures
A new study of investor behavior during the 2023 bank runs found that news coverage was at least as important as underlying bank fundamentals in driving investor perceptions of bank risk.
ABA Data Bank: PPP Loans Go to Firms with 10 Employees or Less
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ABA DataBank: Americans moving less within the same county
Overall residential mobility has declined in response to reduced home affordability, with the share of the population moving each year declining to 11.8% in 2024, from 15.4% in 2010.
ISM: Service sector remained unchanged in September
Economic activity in the services sector was unchanged in September. A Services PMI reading of 50% was at the breakeven point between expansion and contraction for the first time since January 2010.
Survey: One-third of U.S. consumers working second job to cover finances
While the percentage of U.S. consumers classified as financially unhealthy has remained stable, many also report working in a second job or side gig to stabilize their finances, according to a recent survey by J.D. Power.
Sen. Scott seeks more info from FDIC on deposit insurance reform
As lawmakers consider deposit insurance reform, Senate Banking Committee Chairman Tim Scott (R-S.C.) is asking the FDIC to provide additional information about the amount of uninsured deposits in the U.S. banking system and the cost to banks should...
Mortgage rates rise
The rate for a 30-year fixed-rate mortgage was 6.34% this week. The rate for a 15-year fixed-rate mortgage was 5.55%.
