When the post-pandemic economy entered uncharted territory, economic models based on historical data struggled to make accurate forecasts, highlighting the need for flexibility during abnormal times. This observation comes from a new report by the Federal Reserve Bank of Cleveland.
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated twelve individuals in executive and senior leadership roles at AO Kaspersky Lab. This action aims to address continued cybersecurity risks associated with the organization.
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final rules today on prevailing wage and registered apprenticeship (PWA) requirements under the Inflation Reduction Act. As part of the Biden-Harris Administration's Investing in America agenda, these rules aim to build a skilled workforce for the clean energy economy while ensuring that jobs in this sector are well-paying.
WASHINGTON – Secretary of the Treasury Janet L. Yellen called Mexican Finance Secretary Rogelio Ramírez de la O today to congratulate him on his re-appointment by Mexico’s President-elect Claudia Sheinbaum and to discuss Mexico’s economic policy options.
The U.S. Department of the Treasury issued a Notice of Proposed Rulemaking (NPRM) today to implement Executive Order 14105, titled “Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern.” This NPRM follows an Advance Notice of Proposed Rulemaking (ANPRM) from last August and includes draft regulations and explanatory discussions, inviting public comment.
The U.S. Department of the Treasury has released its semiannual Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States. The report, covering the four quarters through December 2023, reviewed and assessed the policies of major U.S. trading partners, which account for approximately 78 percent of U.S. foreign trade in goods and services.
Washington – The U.S. Department of the Treasury released Treasury International Capital (TIC) data for April 2024 today. The next release, which will report on data for May 2024, is scheduled for July 18, 2024.
In a recent interview with Bloomberg, President Loretta J. Mester reflected on her tenure and the evolution of the Federal Reserve's communication strategies. Having attended over 200 policy meetings, first as a staffer and later as a policymaker since 2014, Mester emphasized the importance of clear communication in informing the public, policymakers, and researchers about economic conditions.
The average student debt held by US families in the top income and net worth quintiles increased between 2019 and 2022, according to a new report from the Federal Reserve Bank of Cleveland. Families with student debt in the top income quintile owed more than $75,000 on average as of 2022, up more than $20,000 since 2019, in 2022 dollars. During that same time frame, average student debt fell for each of the other four income quintiles, according to the report, which is based on the latest data from the Federal Reserve Board’s Survey of Consumer Finances.
ALEXANDRIA, Va. (June 17, 2024) – For federally insured credit unions, assets and shares and deposits declined at the median over the year ending in the first quarter of 2024. At the same time, loans outstanding increased and delinquencies grew at the median, according to the latest Quarterly U.S. Map Review released today by the National Credit Union Administration.
With a shared vision and commitment to women’s soccer and the greater Seattle community, Sounders FC Owners and Carlyle have united to usher in a new era for Reign FC. Maya Mendoza-Exstrom has been appointed Chief Business Officer at Reign FC, leading a women-led leadership team after a decade with Sounders FC.
The National Credit Union Administration (NCUA) has placed 1st Choice Credit Union in Atlanta, Georgia, into conservatorship. This decision was made in consultation with the Georgia Department of Banking and Finance.
CNN recently conducted an interview with Loretta J. Mester, the outgoing president of the Federal Reserve Bank of Cleveland. In her discussion with Richard Quest, Mester shared insights on various economic conditions, including inflation and employment.
We produce indicators and datasets to inform the public, policymakers, and researchers about economic conditions, including inflation, employment, and risks to the financial system. Our research informs the public and policymakers by examining economic issues of importance to those in our local communities, across the nation, and around the world. We represent and gather information from the Fourth Federal Reserve District, spanning Ohio and parts of Pennsylvania, West Virginia, and Kentucky. These resources are useful for our region, the communities we serve, and communities...
CNBC’s Steve Liesman and Cleveland Fed President Loretta Mester joined 'Squawk Box' to discuss the state of the economy, recent inflation reports, the Federal Reserve's inflation strategy, and future monetary policy directions.
Bloomberg recently interviewed Federal Reserve Bank of Cleveland President Loretta J. Mester, discussing various aspects of economic conditions and the role of the Federal Reserve.
On June 12, 2024, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced a new regulatory initiative aimed at closing a significant tax loophole used by large, complex partnerships. This measure is part of ongoing efforts to ensure wealthy individuals, complex partnerships, and large corporations pay their owed taxes.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated two individuals and five entities for facilitating weapons procurement for Ansarallah, commonly known as the Houthis. Additionally, OFAC has designated one individual and one company, and identified one vessel involved in commodity shipments that fund Houthi weaponry.
The U.S. Department of the Treasury and IRS have announced that consumers have saved over $1 billion in upfront costs on more than 150,000 clean vehicle purchases since January 1, 2024. This milestone is part of the Biden-Harris Administration's efforts to reduce transportation costs for Americans.
WASHINGTON — The United States has imposed sanctions on four individuals linked to the Islamic State of Iraq and Syria (ISIS), including members of an ISIS-associated human smuggling network. These actions were taken in close coordination with the Government of Türkiye, which is also taking domestic action against this network.
