The Federal Reserve Bank of St. Louis announced the appointment of Alberto G. Musalem as its next president and CEO, effective Apr. 2. Musalem succeeds Jim Bullard, who resigned from his role in July 2023 to become dean of the business school at Purdue University....
The central banks for the U.K. and European Union mirrored the example of their American counterparts and kept their respective interest rates unchanged. The Bank of England maintained its 5.25% rate, which is a 15-year high. Andrew Bailey, governor of the Bank of...
The Federal Reserve has opted to ring out 2023 by keeping rates unchanged. The central bank’s policy making Federal Open Market Committee voted unanimously to hold the federal funds rate in the range of 5.25% to 5.5%. In offering its decision, the Fed presented a...
For the first time in nearly two years, the Bank of England paused its regimen of rate hikes. The central bank’s Monetary Policy Committee (MPC) voted 5-4 to maintain the Bank Rate at 5.25% – the dissenting members sought a 0.25 percentage point increase to 5.5%. The...
Fasten your seat belts – Federal Reserve Chairman Jerome Powell isn’t done with rate hikes. In a speech this morning before an economic policy symposium in Jackson Hole, Wyoming, Powell insisted that the central bank’s goal of driving inflation down to 2% may require...
Pending Home Sales Slide to Nearly Three-Year Low as Buyers Pull Back
