The Senate Banking Committee approved Jerome Powell’s nomination to a second four-year term as chair of the Federal Reserve Wednesday, just hours after the central bank began what will be a difficult effort to combat inflation.
Investors have ramped up expectations for an aggressive Fed posture in the face of the highest inflation in four decades. But the economists say the outlook has become muted by uncertainty over Ukraine, sanctions and surging commodities prices.
Biden’s top economic and national security adviser said the order establishes the first comprehensive federal digital assets strategy for the United States.
President Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded.
Visa currently charges 1.5% to 2.4% in consumer credit card interchange rates, a fee that a merchant is required to pay with every credit card and debit card transaction.
Chairman Jerome Powell said Wednesday that he supports a traditional quarter-point increase in the Federal Reserve’s benchmark short-term interest rate when the Fed meets later this month, rather than a larger increase that some of its policymakers have proposed.
Indiana companies landed $1.4 billion in investments last year–a record amount, and nearly triple the value of investments in 2020, a new Elevate Ventures report says.
Federal Reserve Governor Michelle Bowman said Monday that she was open to lifting interest rates by more than the traditional quarter-point at the central bank’s next meeting in March.
The concern that Russian troops could descend on the Ukrainian capital, Kyiv, a city of about 3 million people less than a three-hour drive away, has added to uncertainties for investors already jittery over central bank strategies to combat inflation.
Under the relatively rare model, a bank offers its expertise and capabilities to a fintech, allowing the fintech to provide iservices that require the involvement of a federally regulated and insured institution.
BKD said its combination with Dixon Hughes Goodman will create a top 10 national professional services firm. BKD’s local office is the fourth-largest accounting firm in the Indianapolis area, according to IBJ research.
Costs for 30-year loans hit a more than two-year high of 3.69% last week, rising about 20% just since Christmas. Further increases are expected as the Federal Reserve, trying to curb inflation, hikes its benchmark rate.
Lisa Schlehuber has served as CEO of Indianapolis-based Elements Financial since 2005. She’ll retire from the role in April, the credit union announced Wednesday.
German American, which has 78 locations in 33 Indiana and Kentucky counties, said it plans to open a loan production office in Greenwood this quarter. It will be the bank’s first physical presence in this market.
With high inflation squeezing consumers and businesses and unemployment falling steadily, the Fed also said it would phase out its monthly bond purchases, which have been intended to lower longer-term rates, in March.
Stocks extended their three-week decline on Wall Street and put the benchmark S&P 500 on track to a so-called correction—a drop of 10% or more from its most recent high.
An IRS worker shortage and an enormous workload from administering pandemic-related programs will combine to cause taxpayers pain this filing season.
High Alpha launched Castiron in October. The startup offers a platform for culinary artisans to sell their products, connect with customers and run their businesses.
J. Kevin Ryan, CEO of Indianapolis-based Financial Center First Credit Union, is set to retire after 40 years in the industry, the credit union announced Tuesday.
The former owner of the five-store local chain said he made the switch to reward employees, who also will benefit from significant state and federal tax advantages.
