FOMC: Asset Purchase Tapering Could Start in November, December
Federal Open Market Committee members said that if they decide to start tapering asset purchases at their next meeting, the process could begin in mid-November or mid-December.
Browsing: Federal reserve
Fed’s SCALE Method for CECL: Haze Lifted, Questions Remain
The Federal Reserve introduced its CECL Scalable CECL Allowance Estimator, or SCALE, method and tool during an “Ask the Fed” webinar this summer.
Debt Limit Questions Dominate House Finance Hearing on Pandemic Response
Treasury Secretary Janet Yellen called the possible consequences of breaching the debt ceiling “catastrophic” during a House Financial Services Committee hearing
Powell, Yellen Discuss Persistent Inflation, Systemic Risk
Higher inflation rates “will likely remain so in the coming months,” Federal Reserve Chairman Jerome Powell acknowledged today in testimony before the Senate Banking Committee.
FOMC: Asset Purchases May be ‘Moderated’ if Economic Progress Continues
If the economy continues to improve broadly, “a moderation in the pace of asset purchases may soon be warranted,” the Federal Open Market Committee said today.
Fed Issues Paper on Bank/Fintech Partnerships; Bowman Discusses Innovation
The Federal Reserve today published a paper highlighting how community banks can partner effectively with fintech companies.
ABA Calls for Interoperability as Fed Develops FedNow
In a comment letter to the Federal Reserve today, the American Bankers Association offered feedback on a recent proposal to revise Regulation J to accommodate the new FedNow Service, which is expected to go live in 2023.
Powell: Fed Could Begin Tapering Asset Purchases Before Year-End
In a highly anticipated speech at the Federal Reserve’s Jackson Hole economic symposium today, Fed Chairman Jerome Powell signaled that his agency could begin tapering its asset purchases before the end of the year, citing recent progress toward maximum employment and controlling inflation.
Fed’s Bowman and OCC’s Hsu to Address Virtual ABA GRC Fall Meeting
Federal Reserve Board Governor Michelle Bowman and Acting Comptroller of the Currency Michael Hsu will address ABA’s virtual Government Relations Council fall meeting on Sept. 9.
FOMC: Delta Variant Posing ‘Downside Risks’ to Economic Outlook
Slowing vaccination rates and the spread of the Delta variant pose “downside risks” to the economic outlook, according to members of the Federal Open Market Committee.