The Latest Breaking News from New York Fed

The dollar index (DXY00 ) on Tuesday fell by -0.37%. Dovish Fed comments Tuesday from Chicago Fed President Goolsbee and New York Fed President Williams weighed on the dollar. Also, strength in the euro weighed on the dollar Tuesday after a gauge of Eurozone investor confidence rose more than expected....

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.03%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.23%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.50%. U.S. stock indexes this morning are mixed, with the...

The Federal Reserve’s busiest year for rate hikes since Jimmy Carter was president may be coming to an end — but U.S. central bankers’ rate increases are far from over.

Federal Reserve officials have signaled plans to raise their benchmark interest rate by 0.5 percentage point at their meeting next week, but elevated wage pressures could lead them to continue lifting it to higher levels than investors currently expect.

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.

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.

Nearly 70% of academic economists recently surveyed by the Financial Times in partnership with the Initiative on Global Markets at the University of Chicago’s Booth School of Business expect the US economy to fall into a recession in 2023.   

Americans are putting more on their credit cards and taking out fewer mortgages, as they need to increasingly borrow to cover the higher cost of everyday essentials and respond to rising interest rates.

As mortgage rates rise sharply and mortgage refinancing volumes plunge, American mortgage borrowers’ credit scores are declining a bit. However, most borrowers who qualify for mortgages have near-perfect credit scores.