With the Federal Open Market Committee meeting yesterday, ABA President and CEO Frank Keating appeared on Reuters TV to discuss interest rates.
The Federal Reserve Open Market Committee in its April 29 statement noted that economic growth slowed during the winter months, partly due to “transitory factors,” and that labor market conditions were largely unchanged since the last meeting.
Are there prospects for growth in the U.S. economy?
Real GDP growth fell sharply in the third quarter, growing at a 0.2 percent seasonally adjusted annual rate according to the Bureau of Economic Analysis’s advance estimate.
The 20-City Case-Schiller Composite gained 5.0% year-over-year in February, compared to a 4.5% increase in January.
After falling 1.4 percent in February, new orders for durable manufactured goods increased by 4.0 percent in March, according to the U.S. Census Bureau.
Sales of new single-family houses in March were at a seasonally adjusted annual rate of 481,000, according to the U.S. Census Bureau and Department of Housing and Urban Development.
Existing home sales rose 6.1 percent in March to a seasonally adjusted annual rate of 5.19 million, the highest annual rate in 18 months.
The Consumer Price Index rose 0.2 percent in March on a seasonally adjusted basis, driven by increases in energy and shelter. Over the last 12 months, the CPI declined 0.1 percent before seasonal adjustment.
ABA President and CEO Frank Keating offered perspective on a wide range of issues — from banking regulation, interest rate increases and the low labor force participation rate to the Meerkat app and presidential politics — in interviews with New York City media outlets yesterday.