James Bullard, president and CEO of the Federal Reserve Bank of St. Louis, today announced that he will step down Aug. 14 to become the inaugural dean of the Mitchell E. Daniels Jr. School of Business at Purdue University. First VP and COO Kathleen O’Neill Paese has assumed the duties of interim CEO in preparation for Bullard’s exit. The bank’s board of directors has formed a search committee to find a replacement.
The Federal Reserve and FDIC rescinded two joint statements issued under the Biden administration on the risk management obligations of financial institutions should they offer crypto-related services.
The rate for a 30-year fixed-rate mortgage was 6.81% this week. The rate for a 15-year fixed-rate mortgage was 5.94%.
In a video message, Treasury Secretary Scott Bessent told students across the U.S. that their participation in Teach Children to Save Day represents their first step toward wise money management.
More than one in three Americans are not confident they have enough savings to cover unexpected bills, according to a new survey by TD Bank.
Existing home sales declined 5.9% in March to a seasonally adjusted annual rate of 4.02 million, the National Association of Realtors said. Sales were down 2.4% from a year ago.
New orders for manufactured durable goods increased $26.6 billion or 9.2% in March to $315.7 billion, the U.S. Census Bureau said in its most recent advance report.
