The Federal Reserve Bank of New York has released a new episode of its "Bank Notes" podcast, titled "Veterans in the Labor Force." This episode features experts discussing the labor force participation gap between veterans and nonveterans. A previous Liberty Street Economics blog post from May 2023 indicated that veterans are 22% more likely to be out of the labor force than their nonveteran counterparts. The podcast also addresses common misperceptions about military career paths and outcomes, while highlighting educational and vocational opportunities available to veterans...
Tokyo, Japan – May 21, 2024 – Global investment firm Carlyle (NASDAQ: CG) announced the final close of its fifth Japanese buyout fund, Carlyle Japan Partners V (“CJP V”). The fund raised JPY 430 billion (approximately USD 2.8 billion), inclusive of commitments from the General Partner and its affiliates, hitting the hard cap on Limited Partner commitments. According to data from Preqin, this marks the largest fundraise for a buyout strategy focused on the Japanese market.
Global investment firm Carlyle (NASDAQ: CG) has announced a $450 million forward flow agreement to purchase newly issued residential solar loans from Sungage Financial, a leading provider of solar financing. Alongside this, Carlyle has made a strategic investment into Sungage Financial. This partnership is expected to enhance Sungage Financial's origination capacity and drive future growth.
Secretary of the Treasury Janet L. Yellen delivered remarks at TechQuartier in Frankfurt, Germany, on May 16, 2024. In her speech, she highlighted the innovative approaches to climate, clean energy, and sustainable finance being pioneered by TechQuartier’s members.
Global investment firm Carlyle (NASDAQ: CG) has announced that its Global Credit platform will provide a comprehensive financing package to support the growth of Big Bus Tours, the leading global provider of hop-on hop-off sightseeing bus tours. With over 5 million customers annually, Big Bus Tours is the world's largest operator of open-top sightseeing bus tours with operations across Europe, North America, the Middle East and Asia Pacific.
The Community Investment Council of the Richmond Federal Reserve Bank convened on April 11–12 to discuss the bank's community development goals for the Fifth District. Leaders from Virginia, Maryland, South Carolina, North Carolina, Washington, D.C., and West Virginia gathered at the Richmond location to discuss issues and trends affecting community development across the district.
The Federal Open Market Committee (FOMC) held a joint meeting with the Board of Governors of the Federal Reserve System. During this second of eight scheduled meetings this year, members reviewed U.S. financial conditions and the nation’s economic situation.
A recent surge in falling mortgage rates has put a stop to a four-month slide in builder confidence, sparking new construction on single-family housing across the United States. Economic indicators also suggest an upturn in housing conditions as we approach 2024.
The National Association of Realtors (NAR) has projected that the number of existing-home sales will reach 4.71 million in 2024, marking a 13.5% increase from the anticipated 4.1 million in 2023.
Investments in productivity-boosting measures have resulted in an uptick in the U.S. Middle Market Business Index. The RSM US Middle Market Business Index (MMBI) recorded a 4.7% surge in productivity during the third quarter.
Hundreds of OpenAI employees are threatening to follow former OpenAI CEO Sam Altman to Microsoft unless the OpenAI board resigns following their decision to remove Altman as CEO. This move follows a contentious decision by the board that has left employees and investors alike questioning its ability to lead.
Christine Lagarde, president of the European Central Bank, proposed a European equivalent to the U.S. Securities and Exchange Commission and a consolidated stock exchange to mobilize funding for tackling the region's challenges of deglobalization, demographics, and decarbonization.
The Consumer Financial Protection Bureau recently initiated a lawsuit against Heights Finance Holding Company, previously known as Southern Management Corporation, along with a number of its affiliated subsidiaries collectively known as Southern.
The Consumer Financial Protection Bureau (CFPB) initiated legal proceedings against Heights Finance Holding Company, previously identified as Southern Management Corporation, a high-cost installment lender, and a number of its subsidiaries (collectively referred to as Southern).
the Federal Reserve Bank of New York’s Center for Microeconomic Data released the July 2023 SCE Labor Market Survey, which indicates a decrease in the share of job seekers compared to last year, improved satisfaction with wage compensation and nonwage benefits, alongside increased anticipated likelihood of future unemployment.
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.
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.
Moody's Investors Service said if the U.S. does not implement comprehensive digital asset regulations, companies and investors might look to other jurisdictions that have those guidelines in place. Moody's report came shortly after lawmakers held a hearing to discuss the draft of a bill that would fill in regulatory gaps for the digital asset industry.
