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. Shipments of manufactured goods decreased $600 million or 0.1% to $596.2 billion, while inventories increased $700 million, or 0.1%, to $865.3 billion.
The Senate voted to confirm Federal Reserve Governor Michelle Bowman as vice chair for supervision. The position was previously filled by Fed Governor Michael Barr.
Economic activity has declined slightly since April, with six of the 12 Federal Reserve districts reporting slight to moderate declines in activity, according to the fourth Beige Book report of the year.
A broad-based project to update generally accepted accounting principles to better reflect an institution's intangible assets is not needed as there is no demand for the information across all industries, ABA said in a letter to the Financial...
The ISM services index contracted in May, the first time since June 2024, the Institute for Supply Management said.
Roughly 60% of current homeowners and prospective homebuyers are uncertain whether now is a good time to buy a home, up from 48% two years ago, according to a recent survey by Bank of America.
Proposed acquisitions have been announced in recent days of banks in Florida, Kansas and Missouri.
