In a press release issued on August 21, 2023, The Federal Reserve Bank of Kansas City announced its annual Economic Policy Symposium, scheduled to take place from August 24 to 26 in Jackson Hole, Wyoming. This year's 46th edition of the symposium will ce

The Commodity Futures Trading Commission (CFTC) has issued a recent order that both initiates and concludes proceedings against Peter L. Bryant from Texas and his firm, Bryant Capital Trade Management Corporation. These actions were taken due to allegations of fraud while operating as an unregistered commodity trading advisor (CTA) and for the failure to properly register as a CTA.

The Quarterly Report on Household Debt and Credit has been released by the Center for Microeconomic Data at the Federal Reserve Bank of New York, according to a press release. This report highlights a slight elevation in overall household debt during the second quarter of 2023, showing an augmentation of $16 billion (0.1%) to reach a total of $17.06 trillion.

The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), which met between Aug. 8 and 10, is largely anticipated to maintain the policy repo rate at 6.5% for a third straight time, according to a press release. Concerns over growing consumer price index (CPI) inflation, driven by higher prices for vegetables and pulses, may not dissuade the central bank from retaining its monetary stance of "withdrawal of accommodation" in the face of surplus liquidity in the banking sector. This is because higher prices for vegetables and pulses are driving up these costs.

After experiencing a series of eleven interest rate hikes that commenced in early 2022, market participants remain vigilant in closely observing the actions of the Federal Reserve (Fed) for any indications of additional upticks in interest rates.

On August20, the Bangko Sentral ng Pilipinas (BSP) has indicated that it sees no immediate need to alter its monetary policy, maintaining interest rates at 6.25% as economic growth in the Philippines slowed for a third consecutive quarter. BSP governor Eli Remolona stated that the recent growth decline was unexpected but believes the economy will recover momentum.

The Reserve Bank of India's six-member monetary policy committee is in a three-day meeting to determine India's key interest rates, with RBI governor Shaktikanta Das set to announce the decision. The focus is on the repo rate, currently at 6.5%, which affects deposit and loan rates; the committee aims to manage inflation within 4% with a range of 2-6%.

Patrick T. Harker, president and CEO of the Federal Reserve Bank of Philadelphia, addressed the Philadelphia Business Journal’s State of the Economy forum on Aug. 8, indicating that in light of recent economic data and discussions with leaders across the Third District, he believes the time may have arrived to maintain steady interest rates and allow prior monetary policy measures to continue their impact with a focus on reducing inflation, according to a press release.

The Federal Reserve Bank of Kansas City released its July Services Survey on July 28, which showed activity in the Tenth District remained consistent during the month, with expectations for future activity increasing slightly. Chad Wilkerson, senior vice president of the Kansas City Fed said that pattern is expected to continue.

In July 2023, the Federal Reserve raised its target federal funds rate by 0.25%, marking the 11th increase since March 2022 and bringing the rate to a range of 5.25% to 5.50%, the highest since early 2001.

According to the Texas Service Sector Outlook Survey, growth in the Texas service sector expanded at a faster pace in July, with the revenue index reaching its highest level in 16 months.

Texas factory activity declined in July, with the production index indicating a modest contraction in output, and the new orders index remaining negative for over a year, according to the Texas Manufacturing Outlook Survey.

The Monetary Authority of Singapore (MAS) has tightened its monetary policy since October 2021 to keep inflation low and ensure medium-term price stability, which helped curb imported inflationary pressures and led to lower domestic inflation, the Business Times reported.

The US Consumer Financial Protection Bureau (CFPB) has published a report highlighting the risks of employer-driven debt poses to its workers, descriing the growing prevalence of employer-driven debt and challenges workers face when they are indebted to an employer as a condition of employment. CFPB Director Rohit Chopra said such debts are suppressing wages and binding workers to their jobs in the U.S.

The Consumer Financial Protection Bureau has sued the Utah-based lease-to-own finance company Snap Finance for allegedly deceiving consumers and making false threats, according to a release by CFPB. The Consumer Financial Protection Bureau (CFPB) claims that Snap Finance promoted and facilitated millions of "lease-purchase" and "rental-purchase" financing agreements in ways that have harmed customers in a lawsuit filed in federal district court.

The Federal Reserve Bank of Richmond's Community Conversations team visited Summerville and Chesterfield counties in South Carolina, where leaders discussed the difficulties faced by companies in finding skilled workers, as well as housing shortages. Martin said it's too soon to judge the program's performance because it only recently began. Nevertheless, one of the participating teachers has already ignited her son's interest, and he has applied to the company's apprenticeship program.

The Federal Reserve has launched its instant payments system, the FedNow Service, which allows banks and credit unions to instantly transfer money for their customers at any time of the day, any day of the year. As of right now, 35 early adopting banks and credit unions, as well as the Bureau of the Fiscal Service of the U.S. Department of the Treasury, are prepared to accept instant payments through the FedNow Service.

The Consumer Financial Protection Bureau, the U.S. Department of Health and Human Services, and the U.S. Department of Treasury started an investigation into high-cost specialty financial products on July 7, 2023. These products include medical credit cards and installment loans, which are pushed onto patients as a way to pay for routine medical care but actually increase health care costs and medical debt.

Federal Reserve Bank of Kansas City's Tenth District's energy activity remains in decline but that's expected to continue to slow, the bank announced in a news release issued last week

Federal Reserve Bank of Minneapolis' new associate vice president of policy brings "civic-focused policy experience" that will help lower income in the U.S. West and Midwest, a senior vice president said in a news release