Podcast: Understanding how monetary policy shapes SOFR

Kevin Warsh was sworn in as chairman of the Federal Reserve during a ceremony at the White House.

The University of Michigan Consumer Sentiment Index decreased 10% in May compared to the month prior, landing at 48.8, according to final results for the month. Sentiment was down 14.2% year over year.

The rate for a 30-year fixed-rate mortgage was 6.51% this week. The rate for a 15-year fixed-rate mortgage was 5.85%.

As part of a cross-sector push to improve consumer financial health, financial institutions will need to prioritize creating products and services that help vulnerable customers and commit to measurement and sharing best practices, Federal Reserve Governor Michael Barr...

If builders continue to scale back single-family production, construction activity and the mortgage pipeline are likely to soften. In contrast, modest annual growth in multifamily development is expected to provide some support for construction loan demand among banks.

With inflation persistently remaining above the Federal Reserve’s 2% target, a majority of Federal Open Market Committee members believe that raising rates may be needed in the future if there is no progress toward that goal, according to...