Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
In its latest economic well-being report, the Federal Reserve found distinct differences between those who use cryptocurrency for payments versus those who use them for investments.
The Biden administration’s pick for Federal Reserve vice chair for supervision faced questions about climate change, digital assets and the central bank’s independence. But he did not meet the same resistance from Republicans as the White House’s first choice, Sarah Bloom Raskin, observers said.
Sen. Cynthia Lummis, R-Wyo., says she and Sen. Gillibrand, D-N.Y., plan to release draft legislation next week that would establish a supervisory entity for emerging financial technologies and new rules for stablecoin issuers.
The Federal Reserve will begin shedding as much as $47.5 billion of assets monthly starting June 1 to tamp down on inflation. But doing so could undermine the banking industry’s preferred source of liquidity.
The Senate voted 80-19 Thursday to confirm Powell to the top spot on the Federal Reserve Board of Governors. He joins Philip Jefferson, who was confirmed by the Senate to serve on the board Wednesday night, and Lisa Cook, who was confirmed Tuesday night.
Lorie Logan manages the Fed’s System Open Market Account and played key roles in the central bank’s crisis responses in 2020 and 2008. She replaces Robert Kaplan, who resigned amid a stock trading scandal last fall.
The Federal Reserve governor said it isn't the central bank’s place to set regulations for specific risk scenarios, and he downplayed the risk that climate change poses to financial stability.
The Federal Reserve's semiannual financial stability report identified the conflict in Eastern Europe as the source of several key risks. Overall, it assessed the banking sector as more resilient than six months ago.
In its semiannual supervision and regulation report, the central bank cited strong balance sheets and liquidity but found risks for smaller banks.
The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. issued a joint proposed rule Thursday meant to refocus and update its implementation of the landmark 1977 law.