Report finds banks strong as global economy weakens
Banks are on sound financial footing even as the world’s economy wobbles from a series of shocks, according to the 2023 Banking and Capital Markets Outlook by Deloitte released today.
Browsing: Economy
ABA Data Bank: Decline in gas prices drove overall decline in headline CPI
Inflation slowed to an annual pace of 8.3% in August, down from 8.5% the prior month.
Business Roundtable: CEO confidence in economic outlook dips in Q3
Confidence among the nation’s CEOs in the future economic outlook dipped in the third quarter amid persistently high inflation and higher interest rates, as well as geo-political factors, according to the latest Business Roundtable CEO Economic Outlook Index released this week.
New J.D. Power study: Inflation affecting consumers’ financial wellbeing
As inflation remains elevated and consumers face persistently higher prices for goods and services, nearly two-thirds—64%—of them are now considered “financially unhealthy,” according to new data released by J.D. Power.
GDP falls for second straight quarter
Real gross domestic product decreased 0.9% in the second quarter of 2022, marking the second consecutive quarter of GDP decline, according to an advance estimate released today by the Commerce Department.
Fed raises interest rates for fourth time this year
The Federal Reserve raised interest rates by three-quarters of a percentage point to a target range of 2.25% to 2.5%, the Federal Open Market Committee announced today.
ABA Data Bank: Markets expect Fed to increase rates 75 basis points
Markets expect at least a 75 bps hike at the next FOMC meeting, which takes place July 26-27. More than half of respondents expect the Fed will need to increase rates an additional 100 bps over the next year to tame inflation.
ABA comments on FAF draft strategic plan
As the Financial Accounting Foundation considers a proposed strategic plan, ABA is recommending the organization consider ensuring that post-implementation reviews (PIRs) are conducted on a regular basis and that FAF takes a leadership role in helping bridge the gap between investor expectations and reporting on environmental sustainability.
ABA Data Bank: Treasury yield curve inverts in July
The spread between the two-year and 10-year notes dipped negative last Monday for the first time since April. Historically, protracted inversions of the yield curve have preceded U.S. recessions.
ABA Data Bank: Recession fears rose in June amid rising inflation
Google Trends data show that searches including the terms “inflation” or “recession” have increased in recent months, peaking in mid-June. By comparison, searches including the term “stagflation” remain low.