The Federal Open Market Committee announced today that it will hold the target range for the federal funds at 4.25%-4.5%. All 12 voting FOMC members voted in favor of the pause.
The FOMC trimmed the federal funds rate by 25 basis points during its December meeting. In a statement following today’s meeting, the FOMC said the unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid, but inflation remains somewhat elevated.
The Trump administration rescinded a memo directing federal agencies to pause distribution of grants and loans, with the reversal coming after a federal judge temporarily blocked implementation of the freeze. However, a federal judge has temporarily blocked implementation...
FinCEN rescinded two alerts for financial institutions related to the financing of what the agency said was “Israeli extremist settler violence against Palestinians in the West Bank.”
Central banks need to find a balance between fostering innovation using artificial intelligence and mitigating the different risks the technology may generate, the Bank for International Settlements concluded in a new report on AI adoption by central banks.
More than two in five Americans — and nearly half of women — do not have emergency savings funds, according to a recent survey by U.S. News and World Report.
Senate Banking Committee Chairman Tim Scott (R-S.C.) announced the formation of three working groups to tackle issues ranging from flood insurance to reforming agencies that regulate financial institutions.
The Consumer Confidence Index was 104.1 in January, down from 109.5 in December, the Conference Board said.
