Federal Reserve Board approves quarter-point rate cut
WASHINGTON, D.C.—The Federal Reserve Board on Wednesday, September 17, cut its benchmark overnight lending rate by 0.25 percentage points to a range of 4%-4.25%, in an 11-1 vote. The move, driven by growing U.S. labor market concerns, also signals two additional cuts before year-end. “The Committee decided to lower the target range for the federal […]
Major US banks considering legal action against federal regulators
WASHINGTON, D.C.—First reported by Semafor on January 11, Bank Policy Institute (BPI), a nonpartisan public policy and advocacy group representing the nation’s leading banking institutions, is gearing up to sue U.S. regulators over proposed rules that would increase capital reserve requirements on banks with total consolidated assets of at least $100 billion. The changes would […]
