Browsing: Economy

Economy

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.

Economy

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.

Economy

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.

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