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Economic News and Analysis

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

Banks Sue Fed in Challenge to How Stress Tests Are Conducted

(Bloomberg Law) -- The Federal Reserve doesn’t allow for appropriate public input when designing bank stress tests, bank trade groups said in a lawsuit seeking to force the central bank to open the design of the tests to public comment.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe Architects Who Built MiamiNew York’s Congestion Pricing Plan Still Faces Legal HurdlesMexico City to Boost Mobility, Security Ahead of FIFA World CupThe suit, filed Tuesday in

Bloomberg 23 hours ago

The Fed is weighing ‘significant changes’ to its annual stress tests for large U.S. banks to lessen the risk of large year-on-year swings

The stress test has helped banks more than double their capital levels over the past decade-plus.

Survey: Small businesses are feeling more optimistic about the economy after the election

A recent survey shows small business owners are feeling more optimistic about the economy following the election. The Uncertainty Index declined 12 points in November to 98, following October’s pre-election record high of 110. NFIB Chief Economist Bill Dunkelberg said small business owners became more certain about future business conditions following the presidential election, breaking a nearly three-year streak of record high uncertainty.

US bank, business groups sue Fed over stress test framework

In a statement, groups including the American Bankers Association and the U.S. Chamber of Commerce said the lawsuit "seeks to resolve longstanding legal violations by subjecting the stress test process to public input as required by federal law."

Big banks, business groups sue US Fed over annual stress tests

(Reuters) -Major banks and business groups sued the Federal Reserve on Tuesday, alleging the U.S. central bank's annual "stress tests" of Wall Street firms violate the law. The lawsuit filed in U.S. District Court in Columbus, Ohio, claims the Fed's practice of determining how big banks perform against hypothetical economic turmoil, and assigning capital requirements accordingly, do not follow proper administrative procedure. Plaintiffs included the Bank Policy Institute, the U.S. Chamber of Commerce and the American Bank Association.

Palm Oil Falls on Weak Malaysia Exports, Competition With Soyoil

(Bloomberg) -- Palm oil fell on concerns about weak Malaysian exports and stiff competition from its main substitute, soybean oil.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe Architects Who Built MiamiNew York’s Congestion Pricing Plan Still Faces Legal HurdlesMexico City to Boost Mobility, Security Ahead of FIFA World CupOverseas shipments from Malaysia were 8.3% lower during the first 20 days of December from a month earlier, according to data from ca

Oil prices rise 1% in thin pre-holiday trade

NEW YORK/LONDON (Reuters) -Oil prices rose more than 1% on Tuesday, reversing the prior session's losses on a brightening short-term outlook tied to the prospect of slightly tightening supplies as trade thinned ahead of the Christmas and Hanukkah holidays. "Given how short the paper market is on positioning, any supply disruption could lead to upward spikes in structure," they added. "The year is ending with the consensus from major agencies over long 2025 liquids balances starting to break down," Neil Crosby, Sparta Commodities' assistant vice president of oil analytics, said in a note.

US Fed floats major changes to bank stress tests in light of legal rulings

WASHINGTON (Reuters) -The U.S. Federal Reserve said on Monday it was considering major changes to its annual bank "stress tests" in light of recent legal developments, including allowing lenders to provide comment on the models it uses, in a major victory for Wall Street banks. The Fed said it may also allow lenders to provide input on the hypothetical scenarios it uses for the annual bank health checks, and it may also average results over two years to reduce annual volatility in how much capital banks must set aside to absorb potential losses. Created following the 2007-2009 financial crisis, the tests assess whether big lenders could weather an economic shock.

Oil Drifts Lower in Pre-Holiday Trading as Dollar Strengthens

(Bloomberg) -- Oil edged lower in thin pre-holiday trading as the dollar strengthened and Russia’s Druzhba pipeline resumed flows. Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe Architects Who Built MiamiReviving a Little-Known Modernist Landmark in BuffaloNew York’s Congestion Pricing Plan Still Faces Legal HurdlesMexico City to Boost Mobility, Security Ahead of FIFA World CupWest Texas Intermediate slid 0.3% to settle near $69 a barrel while Brent settl

New York Fed’s Tweak to Key Repo Facility Hampered by Its Design

(Bloomberg) -- The Federal Reserve Bank of New York’s plan to conduct additional liquidity operations through the end of the year will provide needed support at a time when funding markets tend to be volatile, though its current framework will limit the effectiveness of the measures. Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe Architects Who Built MiamiReviving a Little-Known Modernist Landmark in BuffaloNew York’s Congestion Pricing Plan Still Faces L

Gold slips as traders weigh outlook for Fed interest rate cuts

(Bloomberg) -- Gold slipped as the dollar pushed higher with traders weighing the outlook for US monetary policy in 2025.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe Architects Who Built MiamiReviving a Little-Known Modernist Landmark in BuffaloNew York’s Congestion Pricing Plan Still Faces Legal HurdlesNew York City’s Historic Preservation Movement Is Having a Midlife CrisisBullion fell by as much as 0.6% as the greenback advanced after the US governme