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The Latest Breaking News from Federal Reserve Bank of New York

Fed’s Williams dismisses link between rapid rate hikes and bank stress

Federal Reserve Bank of New York President John Williams rejected the idea that the central bank’s aggressive interest-rate increases precipitated recent financial strains highlighted by recent banking failures.

Tribune News Service

Follow the money to these college majors, Fed study says

Chemical engineers come out at the top of the pack in the study by the Federal Reserve Bank of New York. Trailing the pack are theology and social services majors.

Chicago Sun-Times

Fed’s Williams says 2% inflation goal key to taming prices

Federal Reserve Bank of New York President John Williams said it’s critical the U.S. central bank remain committed to its 2% inflation goal, and emphasized monetary policy must bring supply and demand into better balance to lower inflation.

Tribune News Service

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Stringent US Moves against Money Flows from Iraq to Iran

The decline in the value of Iraq’s national currency and the rise in the prices of foodstuffs and imported goods can be traced back to remarkable change in the policy adopted by the US Treasury and the Federal Reserve Bank of New York. Both bodies have had a policy shift…

Asharq Al-Awsat

US consumer spending growth slowed in December, NY Fed survey finds

Spending by U.S. consumers is growing at a slower pace and the share of households making major purchases in recent months declined, according to a report from the Federal Reserve Bank of New York.

Tribune News Service

Disabled people have been demanding remote work for decades. Here’s what happened when the pandemic made it possible

Employment rates among disabled workers are at a record high–but going back to the office could reverse the progress.

Fortune

China's 'Rapid' Debt Buildup May Portend A Looming Financial Crisis: New York Fed

China’s recent debt buildup following the Covid-19 pandemic has researchers from the Federal Reserve Bank of New York wondering if the country can avoid a financial crisis in the years to come.

Benzinga

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Despite setbacks, Venezuelan opposition leader touts record

Venezuelan opposition leader Juan Guaidó has offered a broad accounting of millions of dollars under his control and took credit for social programs benefiting people across the troubled South American country

The Independent UK

Myanmar exiles seek virtual currency backed by $1 billion at US Fed

Myanmar exiles ousted in a 2021 coup are pressing the Federal Reserve to endorse their bid to use $1 billion in funds frozen by the US to back a digital currency and a plan to establish a new central bank.

Bangkok Post

Editorial: It’s the people’s money: Afghan cash on deposit here is not the Taliban’s

When the legitimate and recognized government of Afghanistan, unable to stand without the U.S. military, fled a year ago as the Taliban swarmed into Kabul, $7 billion held by the Afghan central bank in the vaults of the Federal Reserve Bank of New York was orphaned.

Tribune News Service

Student-loan freeze led to big credit-score gains, NY Fed says

The pandemic-era freeze on student debt payments has “dramatically” improved credit scores for Americans who borrowed money to pay for college, the Federal Reserve Bank of New York said.

Tribune News Service

Who will benefit from $10,000 of canceled student loans?

About a third of all borrowers will see their student loan debt eliminated entirely under the proposal.

USAFacts

Dallas Fed appoints first female president to succeed Rob Kaplan

Federal Reserve Bank of New York executive Lorie Logan will become the 13th president of the Dallas Fed and its first female chief following a seven-month search.

Tribune News Service

Fed’s Williams says a half-point hike on the table if needed

Federal Reserve Bank of New York President John Williams said a half-percentage-point increase in interest rates is an option if warranted by the data, joining other officials in putting such a move on the table.

Tribune News Service

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Benzinga

Economic Data Scheduled For Friday

The University of Michigan's consumer sentiment index for March is scheduled for release at 10:00 a.m. ET. Consumer sentiment dipped in the preliminary reading for March to 59.7, a level that's projected to hold in the final reading for the month. Federal Reserve Bank of New York President John Williams…

Benzinga

What Is The FOMC?

The Federal Open Market Committee, or FOMC, is the Fed's chief body for monetary policy. Its voting membership combines the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York and four other Reserve Bank presidents who serve one-year terms on a rotating basis…

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