The Office of Foreign Assets Control on Friday reauthorized Russian oil exports through May 16 to ease economic pressure from rising fuel prices due to military operations in Iran.
The sanctions were one of several actions the U.S. and its allies took in 2022 to penalize Russia for the invasion of Ukraine. OFAC first issued a temporary waiver for Russian oil in March, which expired on April 11. The new waiver extends those exemptions by roughly another month.
The Treasury Department has appointed Chris Miller as director of the CDFI Fund. He joins the fund from Three Roots Capital, a certified CDFI based in Tennessee.
The GDP second estimate at 1.5% demonstrates resilient private demand; strong increases in real final sales reflect continued appetite for consumer and commercial credit.
The Consumer Confidence Index was 89.4 in August, down from 90.2 in July, the Conference Board said.
Home prices increased 1.5% in June compared to the same month a year ago, up from a 1.2% rise the previous month, according to the S&P Cotality Case-Shiller Index.
The FDIC has held conversations with the Federal Reserve about a proposed series of amendments to Community Reinvestment Act regulations and would welcome the central bank’s participation, FDIC Chairman Travis Hill said.
The July reading of new home sales reflects affordability challenges, with mortgage rates reaching 6.66% at the end of July.
