Ebrima Santos Sanneh

The Bureau of Labor Statistics released its latest Consumer Price Index reading Friday morning, showing inflation rose by 0.3% in September, slightly below August's pace. The report also found core inflation steady at 3.0%, even as shelter costs eased and gasoline prices spiked.

Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.

The Senate confirmed former Federal Deposit Insurance Corp. board member Jonathan McKernan to serve as Treasury's under secretary for domestic finance on a party-line vote, installing a key industry ally in the Treasury Department.

The Office of the Comptroller of the Currency Monday said it will scrap fair housing reporting requirements, fast-track licensing for small banks and simplify regulation for smaller institutions overall.

Federal Reserve Vice Chair Philip Jefferson said Friday that the economic outlook is uncertain and that he was adopting a cautious approach to gauging whether slowing growth and a softening labor market outweigh inflation pressures from tariffs.

The ongoing government shutdown prevented the Bureau of Labor Statistics from releasing its September jobs report Friday, but job growth appears to be softening. The lack of reliable government data comes as the Federal Reserve mulls further interest rate cuts. 

Hill, who has been serving as acting chair since January, has steered the agency toward deregulation and away from Biden-era priorities, with strong backing from big banks.

A report from Democratic staff on the Senate Permanent Subcommittee on Investigations said accounting firm KPMG gave Silicon Valley Bank, Signature Bank and First Republic clean audits despite internal warnings, fraud allegations and apparent risks of failure.

A group of Democratic Senators led by Elizabeth Warren, D-Mass., urged regulators to keep the 2023 Community Reinvestment Act overhaul, saying the rule was carefully crafted with bipartisan input.

Consumer prices rose 0.4% in August, up from 0.2% in July, as weak job growth and lingering tariff uncertainty reinforce expectations for a September Fed rate cut.