Federal Reserve Chairman Jerome Powell issued a strong defense of the Federal Open Market Committee’s gradual path to normalizing interest rates today, emphasizing that this path addresses both the risk of acting too fast and choking off economic growth too soon and the risk of not tightening before inflation accelerates too quickly.
The Federal Reserve today issued a report defending its long-standing practice of paying interest on banks’ excess reserves held at the Fed.
As deposit competition heats up, bankers may need to revisit assumptions and pricing models.
Six months after last discussing the economic outlook with Ellen Zentner, chief U.S. economist at Morgan Stanley, the ABA Banking Journal Podcast welcomes Zentner for a new economic update.
Economic growth will hit 2.8 percent for 2018, the fastest rate of growth in the current expansion, the ABA Economic Advisory Committee said today.