News

Gaining market share faster than expected, the treasury division stands to play a key role in the bank's turnaround efforts.

If the Fed had to set its inflation target today, it would choose 3% or 4%, rather than 2%, but "it is very difficult to change a target when you have missed it for so long. ... The minute you do that, your credibility is hit even harder."

Today's news keeps pressure on the Fed for more rate hikes.

In light of the Labor Department's proposed rule on employee classification, employers need to analyze whether workers are economically dependent on the employer for work.

Forty-nine GOP senators, as well as Sen. Joe Manchin, plan to reintroduce a resolution attempting to block enforcement of the DOL's new ESG regulation for retirement plans, which took effect Monday.

"We think we are going to need to do further rate increases. The labor market is extraordinarily strong," Powell said Tuesday.