Deloitte: Banks Should Brace for Losses, Think ‘Boldly’ About Future
With COVID-19 continuing to have a widespread effect on the economy, banks could see steep losses in the years ahead—but...
Economy
ISM: Non-Manufacturing Sector Growth Continues in November
The ISM Services Index grew in November for the sixth consecutive month. The index registered 55.9% in November; 0.7 percentage...
ADP: 307,000 Jobs Gained in November
The non-farm private sector added 307,000 jobs in November, according to the ADP National Employment Report. This follows a revised...
Powell, Mnuchin: Additional COVID-19 Fiscal Support Needed
In a Senate Banking Committee hearing on the coronavirus response today, Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven...
FDIC: Bank Profits Improve as Pandemic Persists; Community Banks See 10% Boost in Net Income
FDIC-insured banks and savings institutions earned $51.2 billion in the third quarter of 2020, a 10.7% decline from the year...
Manufacturing Sector Growth Continues in November
The ISM Manufacturing Index registered 57.5% in November, a decrease of 1.8 percentage points from the October reading of 59.3%....
Construction Spending Rate Increased in October
Construction spending rose 1.3% at a seasonally adjusted annual rate (SAAR) of $1,438.5 billion in October, according to the Census...
Biden Taps Former Fed Chair Yellen for Treasury Secretary
President-Elect Joe Biden today announced that he will nominate former Federal Reserve Chair Janet Yellen to serve as Treasury secretary....
Consumer Sentiment Falls in November
Consumer Sentiment declined in November to 76.9, according to the University of Michigan Consumer Sentiment Index. November’s figure is 21.7...
New Home Sales Fall 0.3 Percent, But Are Up 42% From October 2019 Estimate
New single-family home sales were at a seasonally adjusted annual rate of 999,000 in October, according to the U.S. Census...
