The Conference Board Consumer Confidence Index increased 2.9 points to 122.9 in August, the second consecutive monthly increase, though last month’s index was downwardly revised from 121.1 to 120.0. The Present Situation Index rose 5.8 points to 151.2, the fourth consecutive monthly increase. The Expectations Index grew 1.0 point to 104.0 after posting a 3.4 point increase in July. “Consumer ...

New orders for manufactured durable goods decreased 6.8% in July to $229.2 billion, following a 6.4% June increase, according to the U.S. Census Bureau. July’s figure was the largest monthly decline since August 2014. Transportation equipment, down three of the last four months, drove the decline, falling 19.0% to $74.3 billion over the month. New orders excluding defense fell 7.8% ...

Speaking to the annual monetary policy conference in Jackson Hole, Wyo., today, Federal Reserve Chairman Janet Yellen offered a broad defense of the post-financial crisis regulatory framework but embraced “appropriate adjustments” as the economy and global landscape evolve.

With the European Union contemplating more stringent regulatory capital rules for U.S. and non-EU headquartered systemically important financial institutions, Rep. Blaine Luetkemeyer (R-Mo.) today wrote to Federal Reserve Chairman Janet Yellen urging the Fed to reevaluate its own regulatory treatment of international banks.

Existing-home sales decreased 1.3% to a seasonally adjusted annual rate of 5.44 million in July, according to the National Association of Realtors (NAR). Sales are 2.1% above a year ago, but are at the lowest level of 2017. “Buyer interest in most of the country has held up strongly this summer and homes are selling fast, but the negative effect ...

New single-family home sales declined to a seasonally adjusted annual rate of 571,000 in July, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The July level was 9.4% below the upwardly revised June rate of 630,000 and 8.9% below the July 2016 estimate. July’s sales were the weakest figure since December. Sales grew 6.2% ...

FDIC-insured banks and savings institutions earned $48.3 billion in the second quarter, up 10.7 percent from the industry’s earnings a year before, the FDIC said today.

Industrial production grew 0.2% in July after 0.4% June increase, according to the Federal Reserve. July represented the sixth consecutive month without a decline. Manufacturing output fell 0.1% in July after a 0.2% increase in June. Production of durable goods decreased 0.5%, while nondurables edged up 0.4% during the month. Capacity utilization for manufacturing decreased by 0.1 percentage point to ...

The Federal Open Market Committee was divided over when it will next raise the target federal funds rate, which they decided to hold at 1 to 1.25 percent, according to minutes from the FOMC’s July 25-26 meeting. “Some” FOMC members expressed uncertainty about inflation, saying that the committee “could afford to be patient” in deciding when to raise rates, while ...

The percentage of student loan borrowers leaving school with at least $20,000 in student debt has doubled from 20 percent to 40 percent from a decade ago, according to data released by the Consumer Financial Protection Bureau today.