admin March 7, 2019

Bloomberg News/Landov Total credit-card borrowing has only declined in 15 months since December 2011 The numbers: Consumer borrowing picked up in January, according to the Federal Reserve on Thursday. Total consumer credit increased $17 billion in January to a seasonally adjusted $4.03 trillion. That’s an annual growth rate of 5.1%. Economists has been expecting […]

admin March 7, 2019

print-edition iconPrint edition | Finance and economics Mar 7th 2019 THE MONEY-LAUNDERING scandal that struck Danske Bank last year was staggering. The Danish lender’s Estonian branch is suspected of handling up to $230bn of iffy funds from former Soviet states. Aftershocks are rumbling under other European banks. Shares in Austria’s Raiffeisen Bank International tumbled by […]

admin March 7, 2019

Do you ever get excited by policy proposals to address the Social Security funding shortfall? You might think that anyone who does needs to get a life. In fact, however, many retirees and soon-to-retirees snap to attention when legislation is introduced to address the Social Security system’s actuarial deficit. The system is currently slated to […]

admin March 7, 2019

Bloomberg News/Landov Fed Governor Lael Brainard dissented in favor of activating the buffer. The Federal Reserve on Wednesday voted not to activate the countercyclical capital buffer on the largest banks in the country, a sign the central bank doesn’t believe there’s a problem with financial stability. In a statement, the Fed said the board […]

admin March 6, 2019

Bloomberg News/Landov Federal workers waited in line at a food bank in Washington D.C. during the partial government shutdown. The government’s closure led to slower economic activity in many regions of the country, the Fed said. The description: Ten of the Federal Reserve’s 12 districts saw “slight-to-moderate” growth in late January and February, […]

admin March 5, 2019

Don’t sweat the so-called doom loop. That is essentially the view of an executive of one of Italy’s largest financial institutions, addressing concerns that the country’s banks may be imperiling themselves, and the broader financial system, by loading up on government debt as yields, which move inversely to prices, have been prone to climbing amid […]