Economic activity grew at a moderate pace from early October to mid-November, but some parts of the country reported constrained growth, despite strong demand due to supply chain disruptions and labor shortages, according to the Federal Reserve’s eighth Beige Book release of the year.
Speaking on a virtual panel at FT Live’s Global Banking Summit Wednesday, ABA President and CEO Rob Nichols addressed top risks and challenges facing the banking industry, including the shifting regulatory and policy environment.
Federal Open Market Committee members said that they see the current elevated level of inflation as transitory but that it could take longer to subside than they had previously assessed.
Federal Reserve Governor Christopher Waller today said that rapid improvement in the labor market and “deteriorating inflation data” have pushed him toward favoring a faster pace of asset purchase tapering.
The Treasury Department’s Office of Financial Research flagged cybersecurity and macroeconomic risk as top areas of concern as the cost of cyberattacks continues to rise and uncertainty about COVID-19 and the economic outlook persists.
The federal banking regulators today announced the end of the mortgage servicing supervisory and enforcement flexibility issued in response to the COVID-19 pandemic.
The Federal Open Market Committee said today that it will begin reducing the monthly pace of its asset purchases since the economy has made substantial progress toward the committee’s goals.
The outlook for financial stability continues to be dominated by the economic fallout from the COVID-19 pandemic, according to a new report released today by the Basel, Switzerland-based Financial Stability Board.
With government and private-sector vaccine mandates taking effect soon, the Equal Employment Opportunity Commission yesterday updated its technical assistance question-and-answer document to provide guidance on how employers may respond to an employee’s request for an accommodation to a vaccine requirement based on a conflict between that requirement and the employee’s sincerely held religious beliefs, practices, or observances.
Economic activity grew at a modest to moderate rate from August to early October, but in some parts of the country growth slowed due to supply chain disruptions, labor shortages and uncertainty around the Delta variant of COVID-19, according to the Federal Reserve’s seventh Beige Book release of the year. The report was based on information collected through Oct. 8.