The US Bureau of Labor Statistics (BLS) reported that the private sector experienced a net employment gain of 1.3 million jobs in the third quarter of 2022.
Following its May 2-3 meeting, the Federal Reserve announced that it has raised the target range for the federal funds rate to 5 to 5-1/4 percent, in response to the modest economic growth observed in the first quarter.
In 2022, labor productivity declines were observed across the manufacturing sector, with 66 out of 86 four-digit NAICS industries experiencing a drop, according to the U.S. Bureau of Labor Statistics.
The U.S. Bureau of Labor Statistics (BLS) reported that compensation costs for civilian workers increased by 1.2% for the three-month period ending in March 2023.
US Treasury Secretary Janet L. Yellen has sent a letter to Congressional leaders urging them to act swiftly to raise or suspend the debt limit, warning that the Treasury's ability to finance government operations may be exhausted by early June.
The Federal Deposit Insurance Corporation (FDIC) has released a report titled "Options for Deposit Insurance Reform," which presents a comprehensive overview of the deposit insurance system and possible reforms in light of recent bank failures.
In a recent speech before the Standing Senate Committee on Banking, Commerce and the Economy, Bank of Canada Governor Tiff Macklem discussed the bank's monetary policy and recent policy announcement.
The Federal Deposit Insurance Corporation (FDIC) was appointed as receiver and entered into an agreement with JPMorgan Chase Bank to protect depositors, assume all deposits, and acquire most of First Republic Bank's assets.
Sarah Breeden, executive director for financial stability, strategy and risk with the Bank of England, says that because the financial system and the "real economy" are closely connected, it is important to monitor corporate debt, given its impact on the economy.
Deputy Secretary of the Treasury Wally Adeyemo led a roundtable discussion on April 27 with nearly 40 small climate businesses and nonprofit developers in the clean energy industry to discuss the Low-Income Communities Bonus Credit Program.
The Federal Reserve Bank of Richmond's fourth annual Investing in Rural America Conference, held in Roanoke, focused on collaboration among stakeholders to strengthen small towns and rural communities.
The Dallas Fed reported the Texas service sector saw modest growth in April, while labor market indicators showed a rise in employment and stable workweeks, according to the Texas Service Sector Outlook Survey.
The review found that SVB's management and board of directors failed to manage their risks, and the Federal Reserve's supervisors did not fully appreciate the extent of the bank's vulnerabilities.
U.S. inflation has started to ease, Lisa Cook, a member of the Federal Reserve Board of Governors, said in a keynote address April 21 at the Carroll Round annual International Economics Conference at Georgetown University, according to a news release.