The U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced today that Wisconsin will join IRS Direct File for Filing Season 2025. This development, enabled by President Biden’s Inflation Reduction Act, will allow more than 600,000 Wisconsinites to utilize a free online tax filing tool next year.
The Federal Reserve, the central bank of the United States, released the minutes of the Federal Open Market Committee (FOMC) meeting held on July 30–31, 2024. The minutes were made public on August 21, 2024, at 2:00 p.m. EDT.
A recent field note from the Federal Reserve Bank of Boston's Regional & Community Outreach department examines how U.S. households perceive and respond to changing prices. The research, which utilized national survey data, indicates that despite a significant decline in inflation over the past two years, many Americans remain concerned about price increases.
WASHINGTON — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned former Haitian President Michel Joseph Martelly under Executive Order 14059, "Imposing Sanctions on Foreign Persons Involved in the Global Illicit Drug Trade."
U.S. Deputy Secretary of the Treasury Wally Adeyemo engaged in a virtual call with Ukrainian Minister of Finance Sergii Marchenko on August 20, 2024. During the discussion, Deputy Secretary Adeyemo reaffirmed the Administration’s unwavering support for Ukraine amid its defense against Russia's ongoing conflict. He praised Ukraine’s efforts to boost domestic revenues and assured that the international community would continue its support.
Global investment firm Carlyle (NASDAQ: CG) has announced an agreement to invest in SEIDOR, a leading technology services and solutions consultancy. The financial terms of the transaction were not disclosed.
The United States and the People’s Republic of China convened the fifth meeting of the Financial Working Group (FWG) in Shanghai on August 15-16, 2024. Senior officials from the U.S. Department of the Treasury and the People’s Bank of China led the two-day discussions, which included participants from various agencies.
Federal Reserve Bank of Philadelphia President and CEO Patrick T. Harker addressed researchers and economists on the significance of using both historical and current data to comprehend today's economy. Harker introduced the Philadelphia Fed’s Center for the Restoration of Economic Data (CREED), which offers digitized versions of previously inaccessible historical data and innovative methods for timely economic and policy-relevant research.
On August 15, 2024, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned several companies, individuals, and vessels for their involvement in the shipment of Iranian commodities to Yemen and the United Arab Emirates (UAE). These actions are linked to Iran-based Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF)-backed Houthi financial official Sa’id al-Jamal. The Specially Designated Nationals and Blocked Persons List (SDN List) entry for the vessel ARTURA has been updated to reflect its new name, OHAR.
Washington – The U.S. Department of the Treasury released Treasury International Capital (TIC) data for June 2024 today. The next release, which will report on data for July 2024, is scheduled for September 18, 2024.
The Treasury Department has unveiled a new enforcement website for the Committee on Foreign Investment in the United States (CFIUS), aimed at enhancing transparency and providing detailed guidance regarding CFIUS penalties and other enforcement actions. This update is part of an ongoing effort to strengthen CFIUS as a national security tool.
During the banking turmoil of 2023, banks sought to reassure uninsured depositors by leveraging recent regulatory changes to provide additional coverage. A new report from the Federal Reserve Bank of Cleveland indicates that the use of reciprocal deposits between banks increased significantly following the failure of Silicon Valley Bank in March 2023.
Baxter International Inc. and Carlyle have entered into a definitive agreement for Carlyle to acquire Baxter's Kidney Care segment, to be named Vantive, for $3.8 billion. The transaction is expected to close in late 2024 or early 2025, subject to regulatory approvals and other conditions.
The Federal Reserve Bank of New York’s Center for Microeconomic Data has released the July 2024 Survey of Consumer Expectations, revealing stable short- and long-term inflation expectations but a significant decline in medium-term expectations to a new series low. Labor market expectations were mixed, with respondents anticipating lower earnings growth and reduced likelihood of finding a new job within three months if laid off. Delinquency expectations continued their upward trend, reaching the highest level since April 2020.
Inflation expectations among U.S. business leaders decreased in the third quarter of 2024, according to the Survey of Firms’ Inflation Expectations (SoFIE), which is published by the Federal Reserve Bank of Cleveland.
The National Credit Union Administration (NCUA) Board has unanimously approved an interagency notice of proposed rulemaking aimed at establishing data standards for specific information collections submitted to the NCUA and other financial regulatory agencies. The decision was made by notation vote.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced new sanctions targeting 19 individuals, 14 entities, and one aircraft under Belarus-related Executive Order (E.O.) 14038. These measures are aimed at those involved in supporting Russia’s war in Ukraine through military resource production, transshipment of goods to Russia, sanctions evasion on behalf of Belarusian defense entities, and revenue generation for Belarusian oligarchs within Alyaksandr Lukashenka’s inner circle. Additionally, five targets—three individuals and two...
Federal Reserve Bank of Boston President Susan Collins visited Newport, Providence, and Cranston on Wednesday to understand the economic challenges and successes in Rhode Island. During her trip, she engaged with local business leaders and nonprofit organizations.
The Group of Creditors of Ukraine (GCU) has expressed approval for the agreement in principle reached between Ukraine and its bondholders on Eurobond debt restructuring terms.
