Consumer Credit Growth Robust in July Despite Slowing Economic Outlook
Consumer credit grew in July at its strongest pace in a full year.
Browsing: Economy
Preliminary Analysis of 2018 HMDA Data and ABA Policy Recommendations
Banks want to expand safe and sound lending across the board and remain committed to enhancing the availability of credit to all qualified borrowers.
ABA Data Bank: Consumers’ Positive Opinion of Banking Industry Reaches 12-Year High
In a recent Gallup poll, 50% of consumers rated the banking industry positively, and 16% rated it very positively, the highest level recorded.
FDIC: Bank Earnings Grow 4.1% Year-on-Year
FDIC-insured banks and savings institutions earned $62.6 billion in the second quarter, a 4.1% increase from the industry’s earnings a year before, the FDIC said today.
Manufacturing Sector Contracts in August
The ISM Manufacturing Index registered 49.1 points in August, down 2.1 percentage points from the…
2018 HMDA Data Show Slight Increase in Home Purchase Loans
The Federal Financial Institutions Examination Council today released the 2018 Home Mortgage Disclosure Act data on mortgage lending transactions at 5,683 financial institutions.
Consumer Confidence Declines in August
The Conference Board Consumer Confidence Index declined 0.7 points to 135.1 in August. The Present…
Fed’s Powell Highlights Global Slowdown, Trade Worries as Key Risks
The Federal Reserve’s conduct of monetary policy is complicated by uncertainty over trade policy, in particular recent news about U.S.-Chinese trade relations, Fed Chairman Jerome Powell said today at the Kansas City Fed’s annual summit in Jackson Hole, Wyo.
Slowing Economic Growth, Trade Tensions Key Factors in FOMC’s Rate Cut
Slowing domestic and global economic growth, persistent uncertainties about trade and inflation running beneath the Federal Reserve’s 2% target were key reasons behind the Federal Open Market Committee’s decision to cut interest rates for the first time in a decade.
Fed: Non-Employer Firms Face Challenges with Credit Access, Operating Expenses
Fewer non-employer firms—those without full-time or part-time employees on payroll, which account for 81% of U.S. small businesses—reported profitability in 2018 than employer firms did, according to Small Business Credit Survey figures released today by the Federal Reserve Bank of New York.