New orders for manufactured durable goods increased $2.2 billion or 0.8% in September to $284.8 billion, the U.S. Census Bureau said in its most recent advance report. The increase followed a 0.8% August decrease. Excluding transportation, new orders increased 0.4%. Excluding defense, new orders increased 0.4%. Transportation equipment drove the decrease, falling $3.1 billion or 3.1% to $95.4 billion.
Newly proposed tariffs on inputs such as steel, aluminum and semi-conductors could rev up the cost of auto parts and repairs, which would filter through to higher auto insurance rates.
ABA voiced support for FCC rules requiring all voice service providers in the call pathway to block calls that are highly likely to be illegal based on a “reasonable do-not-originate” list.
Existing home sales fell 4.9% in January to a seasonally adjusted annual rate of 4.08 million, the National Association of Realtors reported. However, sales rose 2% from a year ago.
The University of Michigan Consumer Sentiment Index decreased 9.8% in February compared to the month prior, landing at 64.7, according to final results for the month. The February figure was down 15.9% from a year ago.
President Trump issued an executive order that, among its provisions, disbands agency advisory committees on community banks and credit unions as part of the administration’s effort to trim the size of government.
In one of his final speeches as vice chairman for supervision, Federal Reserve Governor Michael Barr pushed back against criticisms of a variety of regulatory initiatives during his tenure, from heightened capital requirements to climate risk.
