Senators voted 48-47 to put Christopher Waller on the Federal Reserve Board, concluding a confirmation process that had been dragged out for months because of controversy surrounding a separate nomination for Judy Shelton.
The adjustment period would call for special policies from Washington to protect households and businesses from the massive shutdown necessary to reduce the spread of the coronavirus, James Bullard said in a posting on the bank's website.
The banks, which plan to merge as Truist Financial, are expected soon to start selling hundreds of branches in the Southeast to satisfy antitrust concerns and increase efficiency.
U.S. consumers are borrowing more than ever to buy homes and cars, pay for college and even finance every day purchases. Is it a display of confidence in the U.S. economy or are many households living far beyond their means?
The president of the St. Louis Fed said that regulators should go back to the pre-Dodd Frank framework for small banks, while warning about changes to the system as fintechs expand their presence.
