Personal income increased 0.6%, or $ 147.4 billion, in October, the Commerce Department said today. The personal savings rate — a percentage of disposable personal income — was 4.4%. Meanwhile, personal consumption expenditures increased 0.4%, or $72.3 billion.
Real GDP fell at an annual rate of -0.3% in the first quarter of 2025, according to the BEA's "advance" estimate.
The Fifth Circuit Court of Appeals granted a request by the CFPB and ABA and other plaintiffs to end a lawsuit over changes to the bureau’s UDAAP exam manual.
Banker satisfaction with their core providers increased modestly in the 2024 ABA Core Platforms Survey. On a scale of 1-5, overall satisfaction remains low at 3.19.
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.
The U.S. economy added 177,000 nonfarm jobs in April, the Labor Department said. The unemployment rate was unchanged at 4.2%.
Senate Majority Leader John Thune (R-S.D.) will expedite a Senate vote on legislation to create a regulatory framework for payment stablecoins, the bill’s sponsors announced.
