Consumer credit increases in January
Consumer credit increased at a seasonally adjusted annual rate of 3.7% in January and 2.7% in December. Total outstanding credit...
Economy
New orders for manufactured goods decreased in January
New orders for manufactured goods in January, down two of the last three months, decreased 1.6% to $542.8 billion, the...
Powell expects Fed to pick up pace of rate hikes
Recent economic data suggests the Federal Reserve will need to continue to raise interest rates this year to slow inflation...
Gruenberg: Rising interest rates could cut into bank profitability
The current interest rate environment has had “dramatic effects” on the profitability and risk profiles for banks’ funding and investment...
USDA chief economist: Farm economy is strong, but some risks remain
Crop and livestock prices are still strong despite declining from recent highs, and the farm sector enters the new year...
ISM: Service sector expands in February
The ISM Services Index registered 55.1 percent, 0.1 percentage point lower than January’s reading of 55.2 percent. The composite index...
Report: Banks remain stable amid economic turbulence
Financial conditions have tightened since June 2022 and are significantly tighter than a year ago, and while banks have seen...
ISM Manufacturing contracts in February
The U.S. manufacturing sector contracted in February, Manufacturing PMI® registered 47.7%, 0.3 percentage point higher than the 47.4% recorded in...
Construction spending decreases in January
Construction spending during January 2023 was estimated at a seasonally adjusted annual rate of $1,825.7 billion, 0.1% below the revised...
FDIC: Banks showed continued strength in 2022
FDIC-insured banks and savings institutions earned $68.4 billion in the fourth quarter 2022, a decrease of $3.3 billion, or 4.6%,...
