Banks and the Economy

Durable Goods Orders Increased in March

New orders for manufactured durable goods increased 0.7% in March to $238.7 billion, following a 2.3% February increase, according to the U.S. Census Bureau. New orders excluding defense rose 0.1% on the month, as orders of nondefense capital goods increased 1.2% to $75.0 billion. Shipments of manufactured durable goods increased 0.2% to $239.8 billion. Inventories of manufactured durable goods rose ...

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House Committee Holds Hearing on Choice Act

The House Financial Services Committee today held a hearing on the Financial Choice Act, Committee Chairman Jeb Hensarling’s (R-Texas) sweeping, 600-page bill aimed at reforming parts of the Dodd-Frank Act’s extensive supervisory regime and providing regulatory relief for banks.

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New Home Sales Increased in March

New single-family home sales rose to a seasonally adjusted annual rate of 621,000 in March, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The March level was 5.8% above the revised February rate of 587,000 and 15.6% above the March 2016 level. Sales rose in most regions, increasing 25.8% in the Northeast, 16.7% in ...

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Consumer Confidence Receded in April

The Conference Board Consumer Confidence Index decreased to 120.3 in April, down 4.6 points from March. The Present Situation Index fell 3.3 points to 140.6, while the Expectations Index declined 5.6 points to 106.7. “Consumer confidence declined in April after increasing sharply over the past two months, but still remains at strong levels,” said Lynn Franco, Director of Economic Indicators ...

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ABA Recommends Changes to Large, Midsize Bank Stress Tests

As part of the banking industry’s continuing response to President Trump’s executive order outlining “core principles” for financial regulation, the American Bankers Association in a white paper today urged federal regulators to make changes to the current stress testing framework for large and midsize banks.

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