Recent economic data suggests the Federal Reserve will need to continue to raise interest rates this year to slow inflation and possibly push rates higher than previously projected, Fed Chairman Jerome Powell told lawmakers on the Senate Banking Committee this week.
The current interest rate environment has had “dramatic effects” on the profitability and risk profiles for banks’ funding and investment strategies, FDIC Chairman Martin Gruenberg said this week.
Crop and livestock prices are still strong despite declining from recent highs, and the farm sector enters the new year in good financial health with a strong cash position and solid balance sheet following a year of record-high net cash farm income in 2022.
The ISM Services Index registered 55.1 percent, 0.1 percentage point lower than January’s reading of…
Financial conditions have tightened since June 2022 and are significantly tighter than a year ago, and while banks have seen some slowdown in revenue growth, the sector remains strong overall, the Federal Reserve said this week in its semiannual Monetary Policy Report to Congress.
The U.S. manufacturing sector contracted in February, Manufacturing PMI® registered 47.7%, 0.3 percentage point higher…
Construction spending during January 2023 was estimated at a seasonally adjusted annual rate of $1,825.7…
FDIC-insured banks and savings institutions earned $68.4 billion in the fourth quarter 2022, a decrease of $3.3 billion, or 4.6%, from the third quarter, according to the agency’s most recent Quarterly Banking Profile.
New orders for manufactured durable goods in January, down two of the last three months,…
Sales of new single‐family houses in January 2023 were at a seasonally adjusted annual rate…