Opening Remarks
Chair Jerome H. Powell
At the Integrated Review of the Capital Framework for Large Banks Conference, Federal Reserve Board, Washington, D.C.
Good morning, and welcome to the Federal Reserve Board. I am pleased, though not surprised, to see such great interest in the topic of today's conference—the integrated review of the capital framework for large banks. I want to thank Vice Chair for Supervision Bowman for having the great idea of holding this event at... (continue reading...)
WASHINGTON (Reuters) -There is no need for U.S. Federal Reserve Chair Jerome Powell to immediately step down, Treasury Secretary Scott Bessent said on Tuesday, adding that the Fed chief's legacy should be to right-size the central bank's non-monetary policy functions.
Bessent's comments in an interview on Fox Business Network come a day after he called on the U.S. central bank to conduct an exhaustive review of non-policy areas of operations.
... (continue reading...)(Reuters) -Credit bureau Equifax beat Street estimates for second-quarter profit on Tuesday, helped by a smaller-than-expected drop in inquiries for mortgage credit reports, and raised its annual revenue forecast marginally.
Mortgage inquiries buoyed Equifax's second-quarter results in an otherwise subdued mortgage market, with the 30-year mortgage rate — the interest rate for the most popular U.S. home loan — at lower levels than a year earlier when the... (continue reading...)
Investing.com -- Treasury Secretary Scott Bessent said Tuesday he sees no reason for Federal Reserve Chair Jerome Powell to step down now, while revealing plans to announce several trade deals within days.
Speaking on Fox Business, Bessent said tariffs are bringing manufacturing back to the United States. He noted that President Trump has mandated permits for factories to be completed within one month.
The Treasury Secretary disclosed that August 1 represents a "pretty... (continue reading...)
BEIJING (Reuters) -Apple supplier Goertek Inc said on Tuesday it plans to buy two units of Hong Kong's Luen Fung Commercial Holdings for about combined HK$10.4 billion ($1.32 billion).
The acquisition of Mega Precision Technology and Channel Well Industrial would help Goertek strengthen competitiveness in the field of precision structural components, the company said in a Shenzhen stock exchange filing.
($1 = 7.8499 Hong Kong dollars)
... (continue reading...)More General News
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