Housing starts decreased by 5.5% in May from the month prior to a seasonally adjusted annual rate of 1.28 million, the Commerce Department reported today. The rate was 10% below the May 2023 level. New building permits—an indicator of future demand—dropped 3.8% in May from the month prior and were 9.5% lower than last year.
The Office of the Comptroller of the Currency announced a decrease in assessment rates for the Sept. 30 semiannual assessment.
The Federal Reserve announced the final individual capital requirements for large banks, but may later update the requirements if a proposed rule concerning how they are calculated is finalized.
The FDIC announced it had removed all references to disparate impact from its Consumer Compliance Examination Manual.
The University of Michigan Consumer Sentiment Index decreased 5.7% in August compared to the month prior, landing at 58.2, according to final results for the month.
Personal income increased 0.4%, or $112.3 billion, in July, the Commerce Department said. The personal savings rate was 4.4%.
More than two in three U.S. workers said they are “somewhat” or “very” stressed about their financial situation, according to a new survey by PNC Bank.
