Banking and Lending

Fed Urges Crypto Caution for Banks

Fed Urges Crypto Caution for Banks

By Christopher Rugaber | The Associated Press | March 8, 2023 | Reprints | Unlock Link

While the biggest news to come out of Fed Chair Jerome Powell’s regular testimony before Congress was his willingness to make aggressive interest rate hikes to cool the economy, he also revealed that the central bank is worried about American financial institutions’ work in the crypto space.

Powell: Bigger Rate Hikes Coming If Economy Stays Strong

Powell: Bigger Rate Hikes Coming If Economy Stays Strong

By Christopher Rugaber | The Associated Press | March 7, 2023 | Reprints | Unlock Link

The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Chair Jerome Powell said Tuesday in prepared testimony to a Senate panel.

Mortgage Rates Hit Three-Month High

Mortgage Rates Hit Three-Month High

By Matt Ott | The Associated Press | March 2, 2023 | Reprints | Unlock Link

The average long-term U.S. mortgage rate hit a three-month high this week, reflecting higher Treasury yields and expectations that the Federal Reserve will continue to raise its benchmark rate and keep it there until inflation recedes.