federal reserve

Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises.

Source: federalreserve.gov

Beneath Data Distortions, Jobs Market Shows Signs of Normalizing
Beneath Data Distortions, Jobs Market Shows Signs of Normalizing
November 01, 2024  |  Economy

The U.S. economy added the equivalent of a large company in October, according to data released Friday (Nov. 1) from the Bureau of Labor Statistics....

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House Republicans Blast ‘Undue Scrutiny’ of Bank-FinTech Partnerships
House Republicans Blast ‘Undue Scrutiny’ of Bank-FinTech Partnerships
October 31, 2024  |  Bank Regulation

House Republicans are warning against what they argue is regulatory overreach in bank-FinTech partnerships. The lawmakers — all members of the House Financial Services Committee...

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J.P. Morgan’s Dimon Says Banks Must ‘Fight Back’ Against Regulators
J.P. Morgan’s Dimon Says Banks Must ‘Fight Back’ Against Regulators
October 28, 2024  |  Bank Regulation

Jamie Dimon, CEO of J.P. Morgan Chase, the largest bank in the United States, said Monday (Oct. 28) that his colleagues should fight against overregulation....

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Federal Reserve Enforcement Action Flags Deficiencies at UniBank
Federal Reserve Enforcement Action Flags Deficiencies at UniBank
October 24, 2024  |  Bank Regulation

Washington-based UniBank and its parent company U&I Financial have agreed to measures to be taken under an enforcement action issued Thursday (Oct. 24) by the...

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Fed’s Beige Book Finds Mixed Consumer Spending Amid ‘Elevated Uncertainty’
Fed’s Beige Book Finds Mixed Consumer Spending Amid ‘Elevated Uncertainty’
October 24, 2024  |  Economy

The Federal Reserve’s Beige Book — released eight times a year, with the latest report debuting Wednesday (Oct. 23) afternoon — offers up a qualitative...

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Earnings Season Shows Consumer Pressures on Auto Loan Payments
Earnings Season Shows Consumer Pressures on Auto Loan Payments
October 21, 2024  |  Loans

Earnings reports this season, particularly from banks, have taken note of the resilience in consumer spending, especially on debit and credit cards, in various areas...

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Banks Cut Interest Rates Paid on Corporate Deposits
Banks Cut Interest Rates Paid on Corporate Deposits
October 20, 2024  |  Banking

Banks are reportedly cutting the interest rates they pay on corporate deposits faster than those they pay on consumer deposits. These cuts followed the Federal...

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FDIC to Banks: Work With Borrowers Impacted by Hurricane Milton
FDIC to Banks: Work With Borrowers Impacted by Hurricane Milton
October 15, 2024  |  Bank Regulation

Federal regulators are encouraging banks and financial institutions to work with borrowers impacted by Hurricane Milton. The Federal Deposit Insurance Corp. (FDIC) and other agencies...

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PNC Expects Loan Growth After Fed’s Rate Cut
PNC Expects Loan Growth After Fed’s Rate Cut
October 15, 2024  |  Earnings

PNC Financial Services Group said Tuesday (Oct. 15) that it is prepared for lending to pick up after the Federal Reserve cut interest rates in...

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