Business inventories in August came in at $2.58 trillion, up 0.3% from the month prior and up 2.4% from a year ago, the Commerce Department said today. Trade sales and manufacturers’ shipments were $1.88 trillion, down 0.2% from the month prior and up 1.3% from a year ago.
The Producer Price Index decreased 0.1% in August from the previous month, the Labor Department reported. The index showed prices increased 2.6% from a year before.
Comptroller of the Currency Jonathan Gould emphasized the Trump administration’s recent “clarifications and changes to our existing policies” addressing charges of widespread debanking, then addressed the potential risk to bank deposits from stablecoins.
The Senate Banking Committee voted 13-11 to advance the nomination of economist Stephen Miran for an open seat on the Fed board.
A federal court issued a preliminary injunction against President Trump's removal of Federal Reserve Governor Lisa Cook from the Fed board.
In testimony before House lawmakers, ABA EVP Hugh Carney outlined four key policy recommendations aimed at making financial regulations “more predictable, transparent and risk-focused while preserving the vibrancy and competitiveness of the American banking system.”
During a congressional hearing, House Republicans said onerous data collection requirements have redirected resources away from FinCEN’s core mission of fighting financial crimes, with Democrats alleging that the Trump administration has sought to undermine the federal government’s ability...
