The Federal Reserve Bank of St. Louis today announced that Alberto Musalem will be its next president and CEO, effective April 2. Musalem most recently was CEO, co-chief investment officer and co-founder of Evince Asset Management, a quantitative investment technology company. He previously was EVP and senior advisor to the president at the New York Fed. He succeeds Jim Bullard, who resigned in July 2023.
ABA joined other plaintiffs in filing a motion for summary judgment in a lawsuit challenging an Illinois law restricting interchange fees, pointing to the court’s previous finding that the plaintiffs were likely to succeed on their argument that...
President Trump nominated Federal Reserve Governor Michelle Bowman to be the Fed’s next vice chair for supervision.
Builder confidence in the market for single-family homes in March was 39, down three points from the previous month, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
Business inventories in January came in at $2.59 trillion, up 0.3% from the month prior and up 2.3% from a year ago, the Commerce Department said.
Retail and food service sales for February were $722.7 billion, up 0.2% from the previous month, the Commerce Department said in its advance estimate. Sales were up 3.1% from a year ago.
President Trump issued an executive order directing the CDFI Fund and other government programs to reduce their personnel and operations to the minimum to needed to perform their statutory duties.
