U.S. Treasury Secretary Janet Yellen will deliver remarks at the ABA Annual Convention, Oct. 27-29 in New York City. Yellen will share her thoughts on the state of the U.S. economy, the important role banks of all sizes play in supporting growth and more.
After her prepared remarks, ABA President and CEO Rob Nichols will join Yellen to discuss the economic outlook, banking policy issues and her tenure as Treasury secretary.
Volatility measures began rising in late October after Fed Chair Powell stated that a rate cut in December was not a foregone conclusion.
While the outlook for credit conditions over the next six months has improved, bank economists expect continued softening in credit quality and availability given the prospect of persistent labor market headwinds, according to ABA’s latest Credit Conditions Index.
Personal income increased 0.4%, or $94.5 billion, in September, the Commerce Department said. The personal savings rate was 4.7%.
The University of Michigan Consumer Sentiment Index rose 4.5% in December compared to the month prior, landing at 53.3, according to preliminary results for the month.
While most changes to bank products or services are driven by profitability, the vast majority of bankers said their institutions are willing to introduce a new product or service that does not present an immediate profit opportunity, according...
Proposed legislation to cap credit card interest rates at 10% would restrict credit to all borrowers – particularly high-risk and lower-income borrowers – and increase consumer costs through fees and loss of rewards, according to a policy analysis...
