Federal Reserve officials held interest rates near zero while signaling they expect two increases by the end of 2023, pulling forward the date of liftoff and projecting a faster-than-anticipated pace of tightening as the economy recovers.

Scams in which a real person’s information is used to create fictitious businesses or individuals have led to $6 billion in credit losses. The Federal Reserve has developed a standard definition for synthetic identity fraud so lenders can distinguish it from traditional identity theft.

Federal Reserve Vice Chair Randal Quarles has made it clear that banks failing to make the transition away from the benchmark rate could face supervisory consequences.

A week of light data could possibly lead to further mortgage-rate volatility ahead depending on what monetary officials say in the coming days.

Financial institutions said they needed more time to weigh in on issues such as how they use artificial intelligence for fraud prevention and underwriting.

The head of the Federal Reserve appeared to support Congress’s expanding the scope of the Community Reinvestment Act to unregulated institutions, just as regulators weigh how to modernize the framework for banks.

U.S. personal incomes soared in March by the most in monthly records back to 1946, powered by a third round of pandemic-relief checks that also sparked a sharp gain in spending.

Federal Reserve Chair Jerome Powell is dismissing claims that loose monetary policy has led to rising home values and shrinking inventory and insists that the market is buoyed by creditworthy borrowers and investors.

More than two-thirds of the economists surveyed expect the Federal Open Market Committee will give an early-warning signal of tapering this year, with the largest number — 45% — looking for a nod during the July-September quarter.

The markets and the Fed are not on the same page about the future of inflation. Luke Tilley Senior Vice President and Chief Economist at Wilmington Trust will discuss the economy and inflation.