
Fed Official: Need ‘Dust to Clear’ Before Deciding Next Moves
Austan Goolsbee, president of the Fed’s Chicago branch, said if tariffs don’t worsen inflation, rate cuts could resume.
Austan Goolsbee, president of the Fed’s Chicago branch, said if tariffs don’t worsen inflation, rate cuts could resume.
Jerome Powell, testifying before the Senate Banking Committee, said “bank accounts overall across the economy are safe” and backed by government deposit insurance.
“Let’s rip the waste out of our great nation’s budget, even if it’s a penny at a time,” the president wrote in a social media post, which was light on details about plans for a post-penny future.
A Sunday night email ordered the bureau to “cease all supervision and examination activity,” effectively shutting down an agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal.
President Donald Trump’s attempt Monday to shut down activity at the Consumer Financial Protection Bureau is raising questions about what it means for local financial institutions.
The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed and what policies President Donald Trump may pursue.
The Federal Reserve is nearly certain to keep its key interest rate unchanged at its policy meeting this week, just a few days after President Donald Trump said he would soon demand lower rates.
President Donald Trump has pledged cheaper prices and lower interest rates, but an economy transformed by the pandemic will make those promises difficult to keep.
Stamford-based Patriot Bank has to file a strategic plan with federal bank regulators and submit to extra oversight after being designated as “troubled” by the Office of the Comptroller of the Currency.
Donald Trump is holding off on tariffs during his first day and placing a big bet that his executive actions can cut energy prices and tame inflation. But it’s unclear whether his orders will be enough to move the U.S. economy as he promised.
When a family member passes away, their loved ones sometimes become homeowners unexpectedly. In these situations, servicers are supposed to help, but some just steer borrowers into costly refinances.
In the midst of consolidation and bigger banks eating up small institutions, Charlyn Tanner is looking to help Dutch Point Credit Union keep up with the times.
The Connecticut Department of Banking and financial regulators in 48 other states have jointly levied an $80 million fine on the peer-to-peer payments company CashApp and its Block Inc. mobile payments service.
JPMorgan’s net income soared 50 percent, and other major banks reported banner earnings for the year.
Federal Reserve officials at their meeting Dec. 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes.
The Federal Reserve’s top financial regulator said Monday that he would resign next month, avoiding a potential confrontation with the incoming Trump administration and Republicans in the Senate.
Guggenheim Partners is moving to a prominent downtown Stamford office building.
A Michigan mortgage lender paid a $50,000 fine to the Connecticut Department of Banking and has agreed to stop doing business in the state after breaking state lending laws.
A recent survey shows small business owners are feeling more optimistic about the economy following the election.
The former general counsel of Stamford-based Webster Bank pleaded guilty in federal court Friday to charges he embezzled millions of dollars from several banks in Connecticut and New York.