The Federal Reserve governor was one of two to vote against issuing the so-called Basel III endgame proposal. He says work is being done to address issues with the operational risk framework, but that regulators may need to go back to the drawing board for an adequate fix.

Bond traders are growing more convinced that US yields are heading lower as they bet on a series of Federal Reserve interest-rate cuts, yet the path to cheaper borrowing costs is set to be extremely bumpy.

Alberto Musalem, a finance professor with experience in both the public and private sectors, will take over the reins at the regional reserve bank in April.

Bank investors hope they can party like it's 1995, when the U.S. economy stayed healthy even after aggressive Federal Reserve rate hikes. But a few analysts are a bit more cautious over whether banks' loan books will hold up as well this time.

The so-called core personal consumption expenditures price index barely rose in November and trailed policymakers' 2% target by one measure, reinforcing the central bank's pivot toward interest-rate cuts next year.

Money has been squeezed out of the market by central banks fighting to get an inflation surge under control. That's made borrowing more expensive for governments, corporates and consumers, and could keep denting spending well into next year.

The American Bankers Association requested that President Joe Biden tell Treasury Secretary Janet Yellen to study the impact of more robust bank regulation.

Bostic said he expects the US central bank will cut rates twice in 2024 — in the second half of the year — as inflation continues to slowly decline.

The Federal Open Market Committee meets Dec. 12 and 13 and in addition to their statement, they will issue a Summary of Economic Projections.

Short-term rates may fall but the Fed's quantitative tightening, which tends to pressure financing costs for most mortgages, persists. Here the net impact.