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 non-farm private sector added 22,000 jobs in January, and annual pay was up 4.5% year-over-year, according to the ADP National Employment Report. This follows a downward revision of December’s report from 41,000 jobs to 37,000. Small businesses...
Economic activity in the services sector continued to expand in January. The ISM Services Index indicated expansion at 53.8% to start 2026 as it finished 2025, on a positive note. A value above 50 reflects expansion in the...
Two senators have introduced bipartisan legislation directing social media companies and other online media providers to take steps to fight fraudulent advertisements on their platforms. ABA supports the legislation.
Under the agreement, the Department of Homeland Security will receive less than two weeks of stopgap funding while lawmakers and the White House continue to negotiate policy changes involving Immigration and Customs Enforcement.
Santander has agreed to buy Webster Bank. Also, Prosperity Bancshares has agreed to buy Stellar Bancorp in Houston.
ABA participated in a meeting at the White House with other banking representatives and cryptocurrency leaders to discuss proposed crypto market structure legislation currently pending in Congress.
