Personal income increased 0.4%, or $92 billion, in December 2024, the Commerce Department said today. The personal savings rate — a percentage of disposable personal income — was 3.8%. Meanwhile, personal consumption expenditures increased 0.7%, or $133.6 billion.
New orders of manufactured goods increased $25.7 billion, or 4.3%, from the prior month to $618.8 billion in March, the Commerce Department said.
The U.S. economy added 177,000 nonfarm jobs in April, the Labor Department said. The unemployment rate was unchanged at 4.2%.
Senate Majority Leader John Thune (R-S.D.) will expedite a Senate vote on legislation to create a regulatory framework for payment stablecoins, the bill’s sponsors announced.
ABA joined six associations to offer recommendations for lowering barriers to bank engagement with digital assets.
The CFPB has reached an agreement to end a lawsuit challenging its medical debt reporting rule by acknowledging the rule exceeded its authority.
FinCEN issued a finding and notice of proposed rulemaking targeting a Cambodian firm that allegedly acts as a conduit for laundering money obtained through romance scams and other cybercrimes.
