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...The New York-based company estimated it earned net income of about $2.7bn in the quarter, giving it a net profit margin of more than 60 per cent....
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...US Federal Reserve chair Jay Powell has said it is likely to take “longer than expected” for inflation to return to the central bank’s 2 per cent target and justify cuts to interest rates....
...Fed Beige Book: The Federal Reserve will release its report on the current economic conditions of its 12 central bank districts....
...The moves came amid a week of heightened geopolitical conflict, with tensions between Israel and Iran rising, as well as messaging from Federal Reserve officials that the US central bank may not yet be ready...
...Jay Powell said the Federal Reserve’s job of bringing down inflation was “not yet done” and the US central bank needed “greater confidence” that price pressures were easing before cutting interest rates,...
...Federal Reserve officials have indicated they still expect to cut interest rates by three-quarters of a percentage point this year, sending US equity markets to record highs....
...Federal Reserve officials remained “highly attentive” to inflation risks and wary of cutting interest rates too quickly, according to the minutes of its January meeting, pouring more cold water on market...
...Federal Reserve chair Jay Powell has said he still expects inflation to fall towards the US central bank’s 2 per cent goal, as new data highlighted the bumpy road ahead for officials as they debate when...
...More US credit card accounts were past due on their payments to the largest banks at the end of 2023 than at any time since 2012, according to data from the Federal Reserve Bank of Philadelphia....
...US inflation unexpectedly increased to 3.2 per cent last month, highlighting the challenge faced by the Federal Reserve in the “last mile” of its fight against rising prices....
...Long-term inflation expectations increased to the highest level in six months in February, according to the New York Federal Reserve, as more consumers worry that elevated prices may linger....
...The business, which has been central to the bank’s growth in recent years, was already in the sights of the Federal Reserve over money laundering controls....
...US stocks closed lower for the third session in a row on Tuesday after Federal Reserve chair Jay Powell warned interest rates are likely to stay at current levels for “longer than expected” to tame inflation...
...Investors have fallen into line with the Federal Reserve’s expectation that it will cut interest rates just three times this year, ending a months-long stand-off between markets and the central bank....
...The moves follow Federal Reserve chair Jay Powell saying on Tuesday that the fight against inflation will take “longer than expected”....
...Federal Reserve: The US central bank is expected to hold interest rates as it concludes its two-day policy meeting, but investors will be focused on the so-called “dot plot”, which will show whether officials...
...Most bank mergers need approval from all three of the US federal bank regulators: the FDIC, the Federal Reserve and the Office of the Comptroller of the Currency....
...US stocks fell for the fifth session in a row on Thursday as hopes that the Federal Reserve would make multiple interest rate cuts this year faded....
...Additional reporting by Kate Duguid in New York...
...Earlier this month New York Community Bank shed more than 50 per cent of its market value after reporting hundreds of millions in previously undisclosed potential losses in its commercial property loan book...
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