Key Insight: Chicago Fed President Austan Goolsbee said inflation has not eased as quickly as previously forecast, underscoring the need for a cautious approach to interest rate cuts. Expert quote: “I remain optimistic that there can be more rate cuts this year. But that hinges on seeing actual progress on inflation that shows we are […]
Fed’s Goolsbee: Prioritize inflation before further cuts Read More »
WASHINGTON — Karen Petrou, co-founder and managing partner of Federal Financial Analytics and a luminary of financial policy, died Saturday afternoon of liver cancer after a brief illness. She was 73. Processing Content Petrou wielded an outsized presence in Washington economic and regulatory circles, cultivated over the course of decades in the industry and through
Karen Petrou, founder of Federal Financial Analytics, dies Read More »
A proposed Washington State bill that aims to replenish lost wildfire prevention funding could end up removing a tax break currently benefiting large digital lenders. Processing Content Rep. Shaun Scott, a Democrat from the Seattle area, introduced state house bill 2089 to redefine existing regulations and limit the types of companies that could take advantage
State bill could end tax break for large digital lenders Read More »
Key Insight: Fed Gov. Christopher Waller highlighted his skepticism on whether the labor market is showing signs of recovery, or whether the January jobs report was a one-off. Expert Quote: “If the good labor market news of January is revised away or evaporates in February, it would support my position at the FOMC’s last meeting,
Waller questions January jobs surge, backs possible March cut Read More »
A consortium of mortgage and banking trade groups is voicing support for changes to a capital risk framework governing depository institutions, which if enacted could expand their participation in home lending. Processing Content In a letter addressed to federal officials, the groups called for further reexamination and a reproposal of the Basel III rule that
Mortgage trade groups back call for updates to Basel III Read More »
Former US President Donald Trump speaks during a news conference following a meeting with Senate Republicans at the National Republican Senatorial Committee (NRSC) office in Washington, DC, US, on Thursday, June 13, 2024. Trump’s brand on Wall Street, once tarnished by the US Capitol attack and his bombastic political rhetoric, has made a near-full recovery,
White House reportedly set home investor size sought in ban Read More »
Key insight: Treasury Secretary Scott Bessent said the Supreme Court limited the administration’s tariff authority under the International Emergency Economic Powers Act, but that other laws could give the administration the same powers. Supporting data: The Penn-Wharton Budget Model has estimated that the court’s rejection of the IEEPA tariffs could result in as much as
Bessent: ‘No one should expect’ tariff revenue to decline Read More »
What’s at stake: The Supreme Court struck down the White House’s sweeping tariff regime that went into effect last April in a 6-3 ruling. Expert quote: “The Government cannot identify any statute in which the power to regulate includes the power to tax.” — Supreme Court Chief Justice John Roberts, writing for the majority. Forward
Supreme Court strikes down Trump’s ‘Liberation Day’ tariffs Read More »
The U.S. Supreme Court struck down President Donald Trump’s sweeping global tariffs, undercutting his signature economic policy and delivering his biggest legal defeat since he returned to the White House. Processing Content Voting 6-3, the court said Trump exceeded his authority by invoking a federal emergency-powers law to impose his “reciprocal” tariffs across the globe as well
Trump’s global tariffs struck down by U.S. Supreme Court Read More »
Key Insight: Federal Reserve Vice Chair for Supervision Michelle Bowman is racing ahead to publish Basel III for commentary before the end of the first quarter. She’s previously highlighted that changes will be introduced to the framework to encourage bank participation in mortgages. Expert Quote: “I’ve said for a number of months now that we
Fed’s Bowman says Basel proposal still on track for end of Q1 Read More »