All 18 banks reviewed passed round two of the Federal Reserve’s stress tests, an annual exercise designed to gauge banks’ ability to withstand a recession. It was only the second time since the Fed began administering the exams that no… Read More ›
Federal Reserve News
2019 Stress Test Scenario: Big Banks Must Show The Fed They Can Survive A Hypothetical Scenario With Enough Capital To Continue Lending
“The hypothetical scenario features the largest unemployment rate change to date,” said Randal Quarles, the Fed’s vice chairman for supervision, in a written statement. “We are confident this scenario will effectively test the resiliency of the nation’s largest banks.”
“The case for raising rates has weakened somewhat,” Fed Chairman Jerome Powell said at a news conference after the central bank’s latest policy meeting
U.S. stocks have dropped sharply in recent weeks on concerns over weaker economic growth. Trump has largely laid the blame for economic headwinds on the Fed
U.S. stocks have dropped sharply in recent weeks on concerns over weaker economic growth. Trump has largely laid the blame for economic headwinds on the Fed, openly criticizing its chairman, Jerome Powell, whom he appointed.
Media reports have suggested Trump has gone as far as discussing firing Powell, and he told Reuters in August that he was “not thrilled” with the chairman.
On Monday, Trump said “The only problem our economy has is the Fed.”
The Federal Reserve has signaled that it plans to proceed with an interest-rate increase in December
Fed officials have signaled in recent days they plan to proceed with another quarter percentage point increase in their benchmark short-term interest rate when they meet Dec. 19, marking their fourth rate increase this year.
Today’s top stock market news. Tech sector dominated the news overnight. The next wave of US tariffs is set to kick in as soon as today, with the possible imposition of duties on another $16bn of Chinese imports.
StockMarketNews.Today – Equities were mixed in Asia Pacific as benchmarks in Tokyo and Hong Kong bounced back following a rough Tuesday session, although strong revenue from Apple announced overnight boosted the iPhone maker’s suppliers.
The Federal Reserve has detected rising concern among US business about the potentially harmful impact of tariffs as growing trade tensions prompt some executives to freeze investment plans.
StockMarketNews.Todya – According to minutes of the Fed’s June meeting, some business indicated they had already “scaled back or postponed” plans for capital spending due to “uncertainty over trade policy”, while a larger group voiced concern about the impact of trade restrictions on future investment.