Pending home sales increased 2.2% in November 2024 from the prior month, the National Association of Realtors said this week. The pending home sales index—a forward-looking indicator based on contract signings—increased to 79. Year over year, pending transactions improved 6.9%.
New orders of manufactured goods decreased $2.1 billion, or 0.4%, from the prior month to $586.1 billion in November 2024, the Commerce Department said.
Barr will step down from his position on Feb. 28 or at an earlier date if a successor is confirmed. He will continue to serve as a member of the Fed board.
The survey by accounting firm Wipfli found that 97% of bank executives expected growth in the next 12 months, with 58% anticipating asset growth of at least 5%.
In a speech on financial stability, Federal Reserve Governor Lisa Cook said private credit, stablecoins, cyber threats and artificial intelligence are four areas she is monitoring closely as potential risks.
While some news outlets have mistakenly announced that President Biden has declared Thursday, Jan. 9, a “federal holiday," that is not what he has done. Banks will and should remain open.
Rep. Mike Johnson (R-La.) was reelected House speaker after receiving 218 votes. Johnson was first elected speaker in 2023.
