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Regulators are more watchful, and banks are trying to be more resourceful.
He says there’s likely to be a rate cut this year, but he won’t say when.
Online-centric bank customers with high-yield savings accounts aren’t getting the bang for their buck.
Rising interest rates have cranked up the interest banks are paying depositors. But banks also have a lot of cash stuck in low-interest bonds and loans they made before the Federal Reserve started raising interest rates.
Neel Kashkari weighs in on the state of the economy and what’s left to bring inflation down to the Fed’s 2% target.
It’s usually called a measure of wholesale prices, but it can also be a leading indicator that shows where consumer prices are headed.
High interest rates and limited inventory are key factors in restricting affordability.
Consumers often choose a familiar name, despite the costs. The CFPB’s findings come as credit card debt in the U.S. is rising.
The two aims shouldn’t compete, they say.
“We want to see strong growth and a strong labor market,” said Federal Reserve Chair Jerome Powell.