News Topic: Economic indicators
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Bank economists see ‘blue skies’ on other side of omicron
Inflation and uncertainty over Fed response have bank CEOs on edge
Fed says growth downshifted slightly July-Aug., cites delta
Consumer spending slide clouds banks' second-half outlook
Why the Fed should reengineer its monetary policy
Black business owners cautiously optimistic about 2021, survey finds
A survey commissioned by Bank of America found that Black entrepreneurs are more hopeful about revenue opportunities than other small-business owners, though many are still struggling to bring in the capital needed to expand. ... Read full article
Credit union membership growth stalled in October
The latest monthly Trends Report from CUNA Mutual Group showed October's year-over-year membership growth rate was the slowest since the fall of 2014. ... Read full article
Small businesses poised to hunker down in 2021: Bank of America survey
Though there is some optimism about an economic recovery, two-thirds of respondents said they expect revenue to be flat of down next year and just 13% plan to be in hiring mode. ... Read full article
Week ahead: Changes at NCUA, recession fears worsen
It remains unclear how Mark McWatters's departure will impact the credit union regulator, and there is growing evidence that the country could face a "double-dip recession." ... Read full article
PPP had its strengths. Its successor can be stronger.
A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses. ... Read full article
As offices empty out, CRE picture looks bleak
Commercial real estate is facing another crisis as companies shift to work-from-home policies. Banks and regulators should brace themselves. ... Read full article
Credit performance stabilizes at Synchrony
After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers. ... Read full article
Fed official hints at changes to large-bank capital buffer
The central bank may need to rethink how it uses a tool meant to combat elevated risk in boom times, said Vice Chairman for Supervision Randal Quarles. ... Read full article
Capital One, Discover prepping for next downturn
The large credit card issuers are becoming more selective about who they are extending credit to and how much they are willing to lend, their CEOs said Tuesday. ... Read full article
Sounder economic data could pay off for Puerto Rico — and its banks
The federal government's more active role in GDP, payroll and other vital statistics produced by the island could hasten its recovery from Hurricane Maria and lift lending and bank valuations at the same time. ... Read full article
Fed votes against deploying big-bank capital buffer
The Federal Reserve voted Wednesday to keep the countercyclical capital buffer at its current level of zero, ending some speculation that the board could be looking at a possible increase. ... Read full article
Would raising capital requirements for a rainy day hasten one?
One Federal Reserve governor’s push to use an untapped capital buffer to counteract potential losses is stoking concerns that such a maneuver could spook financial markets. ... Read full article
JPMorgan’s 3Q offers glimpse of big questions facing banking
The largest U.S. bank's strong third quarter did not insulate its leaders from being pressed about the downside of pricey investments in technology, whether capital rules make commercial lending growth hard for big banks to achieve, and whether ... Read full article
Is the C&I comeback already over?
Big banks are expected to report that commercial lending weakened in the third quarter thanks to tax cuts, nonbank competition and seasonal factors. It raises questions about whether the second-quarter rally was an anomaly and if an overall economic ... Read full article