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“In general, the data available at the time of the October 29-30 meeting suggested that economic activity continued to rise at a moderate pace; the set of information reviewed for this meeting, however, was reduced somewhat by delays in selected statistical releases associated with the partial shutdown of the federal government earlier in the month. …
“Today, we’re issuing the TILA-RESPA final rule. This rule improves the way consumers receive information about mortgage loans, both when they apply and when they’re getting ready to close. Alongside the rule, we’re publishing information to help industry understand what the requirements are, such as how to fill out the disclosure forms. Helping with that understanding …
CBO Report: “The debt limit—commonly referred to as the debt ceiling—is the maximum amount of debt that the Department of the Treasury can issue to the public and to other federal agencies. That amount is set by law and has been increased over the years in order to finance the government’s operations. The debt ceiling …
Poverty in the United States: 2012 – Thomas Gabe , Specialist in Social Policy. November 13, 2013 “In 2012, the U.S. poverty rate was 15.0%—46.5 million persons were estimated as having income below the official poverty line. Neither the poverty rate nor the number of persons counted as poor in 2012 differed statistically from 2011 or 2010. In …
Chairman Ben S. Bernanke At the National Economists Club Annual Dinner, Herbert Stein Memorial Lecture, Washington, D.C., November 19, 2013. [snipped] “In coming meetings, in evaluating the outlook for the labor market, we will continue to consider both the cumulative progress since September 2012 and the prospect for continued gains. We have seen meaningful improvement in …
“The global economy is expected to continue expanding at a moderate pace over the coming two years, but policymakers must ensure that instability in financial markets and underlying fragility in some major economies are not allowed to derail growth, according to the OECD’s latest Economic Outlook…GDP growth across the 34-member OECD is projected to accelerate from …
“The federal bank regulatory agencies today released an estimation tool to help community banks understand the potential effects of the recently revised regulatory capital framework on their capital ratios. The revised framework implements the Basel III regulatory capital reforms and certain changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. In July …
DOJ news release: “The Justice Department, along with federal and state partners, today announced a $13 billion settlement with JPMorgan – the largest settlement with a single entity in American history – to resolve federal and state civil claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities (RMBS) by JPMorgan, …
William B. English, J. David Lopez-Salido, and Robert J. Tetlow – 2013-76: “In recent years, the Federal Reserve has made substantial changes to its framework for monetary policymaking by providing greater clarity regarding its objectives, its intentions regarding the use of monetary policy–including nontraditional policy tools such as forward guidance and asset purchases–in the pursuit of those …
“Today, the Consumer Financial Protection Bureau published a report analyzing the amount of money spent on providing financial education to consumers and the amount spent trying to influence consumers’ decisions about financial products. The report found that for every dollar put towards financial education, $25 is spent on financial marketing, which can make it difficult …
News release: “The nation’s cities are struggling more economically in 2013 than they did in 2012, according to a report done by IHS Global Insight for The U.S. Conference of Mayors. The report findings show that one-third (119) of the nation’s 363 U.S. metropolitan areas — cities and their surrounding suburbs — will see stagnant or …
Government at a Glance 2013: “The global economic crisis has undermined trust in government. Today only four out of ten citizens in OECD countries say they have confidence in their national authorities. Not surprisingly, trust declined in the countries hit hardest by the crisis, such as Ireland, Greece, Slovenia and Portugal. But measures can be taken to …
