House Financial Services Committee Chairman French Hill (R-Ark.) announced the introduction of legislation to end the Federal Reserve’s dual mandate “and ensure the central bank focuses exclusively on containing inflation.”
The Federal Open Market Committee announced that it will lower the target range for the federal funds rate by 25 basis points to 4%-4.25%, marking the first time it has lowered the rate since December 2024.
Housing starts decreased by 8.5% in August from the month prior and 6% from last year, the Commerce Department reported.
The ABA Nominating Committee has finalized the official slate of candidates to be presented for election at the association’s annual meeting scheduled for Oct. 21 in Charlotte, North Carolina.
A proposal to create an independent office at the FDIC to oversee bank appeals of its supervisory decisions would serve “as a crucial backstop for fair and consistent supervision,” ABA said.
The House Financial Services Committee advanced four bills supported by ABA, covering topics ranging from stress testing to community banks.
