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Economic News and Analysis

The latest news and analysis about the health of the US economy.

Fed’s Bowman Says Regulators Shouldn’t Rush to Contain AI

(Bloomberg) -- Federal Reserve Governor Michelle Bowman acknowledged the risks created by artificial intelligence but warned that regulators should also be careful not to constrict the development of useful technologies.Most Read from BloombergNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5 Billion PledgeTrump Promises Could Have Seismic Impact on Washington EconomyNYC Mayor Adams Names Jessica Tisch to Lead Police Head Amid ProbesToky

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US Debt Load Tops Fed’s Survey of Financial Stability Risks

(Bloomberg) -- The US government’s debt load is now seen as the biggest risk to financial stability, outweighing persistent inflation in a Federal Reserve survey.Most Read from BloombergNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5 Billion PledgeTrump Promises Could Have Seismic Impact on Washington EconomyNYC Mayor Adams Names Jessica Tisch to Lead Police Head Amid ProbesTokyo’s Scorching Summers Focus Public Anger Against Tree Cutt

Fed survey finds inflation fading as a risk next to debt, trade wars

President-elect Donald Trump may have campaigned hard against high inflation, but by the time of his Nov. 5 election victory financial professionals had moved on from rising prices and begun worrying about rising U.S. debt, possible recession, and risks to global trade as among the top threats to the stability of the financial sector, according to a new Federal Reserve survey released on Friday. These concerns have also been reflected in recent bond market behavior, with yields on 10-year Treasury notes, for instance, rising sharply over the last two months despite the Fed having cut its benchmark lending rate twice by a total of 75 basis points.

Oil Advances on Rising Geopolitical Tensions From Iran, Russia

(Bloomberg) -- Oil rose as geopolitical tensions from Russia to Iran ratcheted higher while strength in equity markets increased the appeal of risk assets.Most Read from BloombergNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5 Billion PledgeTrump Promises Could Have Seismic Impact on Washington EconomyNYC Mayor Adams Names Jessica Tisch to Lead Police Head Amid ProbesTokyo’s Scorching Summers Focus Public Anger Against Tree CuttingWest

Fed announces policy framework review, plans for May 15-16 conference

WASHINGTON (Reuters) -The U.S. Federal Reserve on Friday announced plans for a May 15-16 conference and public "Fed Listens" events around the country as part of a review of its long-run strategy and approach to policymaking. "We are open to new ideas and critical feedback and will take onboard lessons from the last five years and adapt our approach where appropriate to best serve the American people, to whom we are accountable," Fed Chair Jerome Powell said in a statement. Notably the statement said the Fed's 2% inflation goal "will not be a focus of the review," a likely disappointment to some in academic and policy analysis circles who feel the specification of a target, and the level at which it is set, have become problems for the central bank.

Fed Announces Details and Focus of Upcoming Framework Review

(Bloomberg) -- The Federal Reserve announced more details about its upcoming framework review Friday, including a specific focus on the central bank’s communication tools.Most Read from BloombergNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5 Billion PledgeTrump Promises Could Have Seismic Impact on Washington EconomyNYC Mayor Adams Names Jessica Tisch to Lead Police Head Amid ProbesTokyo’s Scorching Summers Focus Public Anger Against

Trump is thinking about former Fed governor Kevin Warsh to be his Treasury secretary—and to replace Jerome Powell

The two discussed the matter this week at Mar-a-Lago, according to the Wall Street Journal.

Oil Market ‘Complacent’ About Iran-Sanctions Risks, Rapidan Says

(Bloomberg) -- The oil market is “still complacent” about the geopolitical risks posed by the prospect of heightened sanctions against Iran and Russia, said Bob McNally, president of Rapidan Energy Group. Most Read from BloombergNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5 Billion PledgeTrump Promises Could Have Seismic Impact on Washington EconomyNYC Mayor Adams Names Jessica Tisch to Lead Police Head Amid ProbesTokyo’s Scorching S

Suncor’s ‘Rock Star’ Firebag Oil Sands Site Hits Output Record

(Bloomberg) -- Suncor Energy Inc.’s crude output from wells in Alberta rose to a record in October on gains at the Firebag oil sands site, which the producer’s chief executive has called a “rock star” operation.Most Read from BloombergNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5 Billion PledgeTrump Promises Could Have Seismic Impact on Washington EconomyNYC Mayor Adams Names Jessica Tisch to Lead Police Head Amid ProbesTokyo’s Scorc

US economic output hits highest level since April 2022 amid 'greater optimism' among businesses

The uptick in business activity was largely driven by the services sector.

New York Fed paper challenges notion of discount window stigma

The banks most reluctant to tap the U.S. central bank's discount window to shore up their capital are in fact those who face the highest failure risk, according to new research from the New York Federal Reserve that turns the notion of bank emergency borrowing stigma on its head. The stigma in question is the long-running belief that when a bank borrows from the Fed's long-running emergency lending discount window, it will be perceived by others to be in trouble and face challenges as a result. To avoid those perceptions, banks will instead avoid the Fed, which in turn increases the risk that affected banks may find themselves in even deeper trouble.