Housing inventory at one point this year showed 33% year-over-year growth, but that growth has since slowed to 17%, and we might already have seen the seasonal peak in inventory for the year in the first week of August. I didn’t believe we were witnessing the peak in August and I have been looking for […]
Did housing inventory peak in August this year? Read More »
Fair Finance Watch, a self-described watchdog for the financial services industry, has filed early opposition to Fifth Third Bank‘s proposed acquisition of Comerica, urging the Federal Reserve to hold public hearings and scrutinize the Cincinnati-based lender’s mortgage lending record before approving the deal. In a letter sent Oct. 8 to Fed Chair Jerome Powell and
Fair Finance Watch opposes Fifth Third-Comerica merger Read More »
Key insight: Identity theft victims who file extended fraud alerts often experience significant and persistent improvements in their credit profiles, becoming more creditworthy. What’s at stake: U.S. banks and credit unions that understand the behavior of identity theft victims can land better credit lines. Supporting data: Extended alert filers saw their credit scores increase by
Silver lining? Some fraud victims see credit scores rise: Fed Read More »
The data void created by the US government shutdown is pushing bond traders to hedge against the risk that the Federal Reserve pauses at one of its two remaining meetings this year, or potentially delivers more policy easing than the market anticipates. Interest-rate swaps have been steadily pricing in roughly a quarter-point rate cut in both October
Bond traders step up Fed hedges as shutdown clouds outlook Read More »
Prolonged funding pressures in US money markets, just as bank reserves held at the Federal Reserve are dwindling, suggest the central bank may be getting closer to ending the unwinding of its massive portfolio of securities. Overnight funding markets, where banks and asset managers borrow and lend to each other on a day-to-day basis, have
Fed’s balance sheet runoff in focus as bank reserves are ebbing Read More »
Bloomberg News Key Insight: Fed Gov. Stephen Miran said central bank independence in setting monetary policy is of “critical importance,” highlighting that the central bank’s decisions should be insulated from politics. Expert quote: “Monetary policy should be set for the goals that Congress has assigned the Fed — for price stability and full employment —
Miran cites ‘critical importance’ of Fed independence Read More »
Jobs week ended with an eerie silence, as the government remains shut down and we didn’t receive the last two major reports for the week. Given that job growth has been slowing dramatically this year, it’s time to examine what is really going on. For me, the situation is straightforward: over the past 24 months,
What we know about the labor market, even without Jobs Friday data Read More »
Key Insight: Payroll firm ADP showed that employers lost 32,000 jobs in September, but the Bureau of Labor Statistics did not release its scheduled jobs report Friday because of the federal government shutdown. Forward look: The Fed cut rates by 25 basis points in September as a “risk management” move. The absence of a key
Even as shutdown halts BLS data, hiring appears to be slowing Read More »
Key Insight: The Supreme Court postponed a decision on whether to strike down an injunction that allowed Federal Reserve Governor Lisa Cook to remain on the board while her lawsuit against the administration moves forward, allowing her to stay at the Fed at least until oral arguments are held in early 2026. Expert Quote: “The
Supreme Court to hear Fed Gov. Cook case in 2026 Read More »
Al Drago/Bloomberg Key Insight: Federal Reserve Vice Chair Philip Jefferson said immigration and tariff policies have clouded his economic outlook and placed pressure on the central bank’s dual mandate. However, because tariffs have had a smaller-than-expected impact on inflation, he said he expects disinflation to resume after this year. Expert Quote: “I view the uncertainty
Fed’s Jefferson: Uncertainty around economy ‘especially high’ Read More »