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favicon —  4+ hour, 26+ min ago

Federal Reserve Board finalizes clarifying and technical updates to its policy governing the provision of intraday credit to healthy depository institutions with accounts at the Federal Reserve Banks > pressreleases

...Federal Reserve Board finalizes clarifying and technical updates to its policy governing the provision of intraday credit to healthy depository institutions with accounts at the Federal Reserve Banks. For release at 11:30 a.m.... ...The final updates related to the deployment of the FedNow Service and the Overnight Overdrafts policy will become effective when Reserve Banks begin processing live transactions for the FedNow Service, which is targeted for launch in May-July 2023....

favicon —  2+ hour, 26+ min ago

Federal Reserve Board announces approval of application by Farmers National Banc Corp. > pressreleases

...The Federal Reserve Board on Friday announced its approval of the application by Farmers National Banc Corp., Canfield, Ohio, to acquire Emclaire Financial Corp., and thereby indirectly acquire The Farmers National Bank of Emlenton, both of Emlenton, Pennsylvania....

favicon —  4+ hour, 55+ min ago

Inflation is Deflating the American Dream > article

...The stock market rose, as softer-than-expected inflation rate gave investors hope the Federal Reserve may not have to raise its target rate quite as fast. A 7.7-percent increase in prices over the last year shouldn't make people hopeful.... ...To combat the problem it helped create, the Fed is raising its target federal funds rate, which has grown at the fastest pace since Paul Volcker was Chairman in the early 1980s....

favicon —  1+ day, 56+ min ago

Barr, Why Bank Capital Matters > speech

...Vice Chair for Supervision Michael S. At the American Enterprise Institute, Washington, D.C. (virtual). In my first speech as Vice Chair for Supervision in September, I said that the Federal Reserve Board would soon engage in a holistic review of capital standards.... ...This experience prompted the United States and other jurisdictions to revisit how supervision and regulation, including capital regulation, could have better contained that risk in both the bank and nonbank sectors. That is why capital levels today are strong....

favicon —  1+ day ago

Manufacturing-Sector Contracts in November > article

favicon —  1+ day ago

Adam Smith's Oft-Missed Lesson on Human Imagination > article

...But I have missed teaching the bigger but less emphasized lesson from Adam Smith, and I think much of our profession has, as well. In Adam Smith's famous pin factory example to illustrate the division of labor, one person making a pin could take many hours.... ...In contrast, Smith shows how pins can be made much more quickly by dividing tasks and creating specialists in different operations....

favicon —  1+ day ago

Weekly Initial Claims Continue to Trend Higher > article

...While the data continue to imply a tight labor market, continued elevated rates of price increases, an aggressive Fed tightening cycle, and fallout from the Russian invasion of Ukraine remain risks to the economic outlook....

favicon —  1+ day ago

Taxes, Spending, and Powerball Winnings > article

...What could Congress do with the money if they were the sole winners of the Powerball, based on the CBO's budget for 2022?. Federal spending on education is projected to be $73 billion. The Powerball winnings would fund this for ten days.... ...Congress is slated to spend a total of $1.09 trillion on Social Security. The Powerball winnings would cover this for about sixteen hours. $1.2 trillion was allocated to Medicare and Medicaid combined....

favicon —  1+ day ago

Mental Health Is In Crisis. What Is the Answer? > article

...As part of the lavish Bipartisan Safer Communities Act, the Biden Administration provided nearly $300 million in support for certified community behavioral health clinics, with another $15 million to be distributed in 2023....

favicon —  2+ day ago

Speech by Governor Cook on the economic outlook and U.S. productivity > speech

...Governor Lisa D. At the Detroit Economic Club, Detroit, Michigan. Good morning. It is a pleasure to be back in Michigan, although I wish I had been here to participate in the Turkey Trot last week, which is an annual tradition for my family and me.... ...I can think of no better place to do that than in the Motor City. We have begun to see some improvement in the inflation data....

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