U.S. Banks Seek Further Easing of Federal Reserve Capital Rules
Major U.S. banks are making a final push for changes to the Federal Reserve’s proposed capital rule overhaul, arguing that some requirements remain overly restrictive despite significant revisions by regulators. The banking industry is...
U.S. Banks Face Fresh Scrutiny Over Alleged ‘Debanking’ Practices
Major U.S. lenders are preparing for heightened regulatory scrutiny as the Office of the Comptroller of the Currency (OCC) nears completion of a review into allegations that banks improperly closed or denied customer accounts...
U.S. Inflation Expected to Hit Three-Year High in May
The annual rate of U.S. consumer inflation is expected to accelerate to 4.2% in May, marking its highest level in three years, according to economists surveyed by Reuters. Rising energy prices, driven by tensions...
Powell Warns Against Politicizing Federal Reserve, Urges Protection of Democratic Institutions
Former U.S. Federal Reserve Chair Jerome Powell has warned against the dangers of politicizing the central bank, stressing the importance of protecting democratic institutions in the United States. Speaking while accepting the John F....
U.S. Economic Growth Revised Down to 0.5% in Q4, Corporate Profits Surge
U.S. economic growth slowed more sharply than previously estimated in the fourth quarter, according to fresh data released by the Commerce Department’s Bureau of Economic Analysis. Gross domestic product (GDP) expanded at an annualized...
US economy could easily shrink, says Federal Reserve Chairman
Jerome Powell, the chairman of the Federal Reserve, says the US economy can shrink by around 20% due to the present Covid-19 outbreak. He has also predicted that the showdown might last for several...
US stocks marks record gain
Despite the disturbed economic condition, US stocks have marked a record gain – the gain is the biggest since the year 1974. As per a media report, Wall Street’s S&P 500 shares index has...