Key takeaway: Treasury Secretary Scott Bessent said in an appearance Wednesday that the Federal Reserve should require regional Fed presidents to reside in their districts for three years going forward. Supporting data: All 12 regional Fed presidents’ terms expire every five years and are reappointed as a bloc. The next vote on reappointing regional bank […]
Bessent floats residency rule for regional Fed presidents Read More »
Senate Democrats are warning the Trump administration not to cut an arcane but critical function of the Consumer Financial Protection Bureau that underpins the housing market as officials move to dismantle the agency. At issue is the CFPB’s weekly publication of Average Prime Offer Rate tables, a key benchmark enabling the smooth operation of the
Warren warns CFPB on its ‘half-baked idea’ for mortgage-rate data Read More »
US companies shed payrolls in November by the most since early 2023, adding to concerns about a more pronounced weakening in the labor market. Private-sector payrolls decreased by 32,000, according to ADP Research data released Wednesday. Payrolls have now fallen four times in the last six months. The median estimate in a Bloomberg survey of
Payrolls at US companies fall by most since 2023, ADP says Read More »