As expected by analysts, the Federal Open Market Committee announced today that it would cut the target rage for the federal funds rate by a quarter of a point to 2 to 2.25% amid slowing global growth and mounting economic uncertainties.
The FDIC today flagged high loan concentrations, as well as the interest rate environment and short-term liquidity challenges, as key risks facing banks in 2019.
ABA’s Economic Advisory Committee—which is made up of 16 chief economists from some of the nation’s largest banks—today forecast that economic growth will continue through 2020 at an estimated rate of 2 percent.
The nation’s CEOs said they were less confident about the future economic outlook, reflecting uncertainties surrounding trade policy and overall global growth, according to the latest Business Roundtable CEO Economic Outlook Index released this week.
Outstanding household debt increased by 0.9% in the first quarter of 2019, rising by $124 billion to land at $13.67 trillion, the Federal Reserve Bank of New York reported today.
White House Council of Economic Advisers Chairman Kevin Hassett today said that the U.S. economy appears to be “on track to have a 3% year” in terms of economic growth.
The nation’s CEOs were less confident about the future economic outlook than they were in previous quarters, according to the latest Business Roundtable CEO Economic Outlook Index released today.
The Federal Reserve on Friday issued its semiannual monetary policy report, just ahead of Fed Chairman Jerome Powell’s testimony before the Senate Banking Committee next week.