Industrial production dropped 0.5% in March from the previous month, the Federal Reserve reported. The March figure was up 2.4% from a year prior. Manufacturing declined 0.1% in March, mining fell 1.2% and utility output slipped 2.3%.
President Trump postponed signing an executive order on artificial intelligence that would have established a path for the federal government to review AI models before they are publicly released.
ABA joined four other associations to express support for proposed reforms to the CFPB's regulations of the mortgage industry.
The rate for a 30-year fixed-rate mortgage was 6.51% this week. The rate for a 15-year fixed-rate mortgage was 5.85%.
As part of a cross-sector push to improve consumer financial health, financial institutions will need to prioritize creating products and services that help vulnerable customers and commit to measurement and sharing best practices, Federal Reserve Governor Michael Barr...
If builders continue to scale back single-family production, construction activity and the mortgage pipeline are likely to soften. In contrast, modest annual growth in multifamily development is expected to provide some support for construction loan demand among banks.
After previously seeking public input on the idea, the Federal Reserve issued a formal proposal for establishing payment accounts and will seek further comment.
