Tag Archives: Federal Reserve

Increases in home prices and the stock market pushed household wealth to nearly 85 trillion for the first quarter of 2015, according to the Federal Reserve’s Statistical Release titled “Financial Accounts of the United States” released today. The net worth of households and nonprofits rose increased by $1.63 trillion to $84.9 trillion during the first quarter of 2015. Meanwhile, the value of directly and indirectly held corporate equities increased $487 billion and home values rose $503 billion.

Individuals' optimism regarding future financial prospects increased substantially from 2013 to 2014, while perceptions of current financial well-being improved only modestly, according to a survey conducted by the Federal Reserve released Wednesday. The Fed's 2014 Survey of Household Economics and Decisionmaking, which was completed by about 5,800 individuals last fall to provide insight into various aspects of Americans' personal finances such as economic security, banking, credit access and usage, housing, household debt (including education and student loan debt), savings, and preparedness for retirement.

Federal Reserve Chair Janet Yellen confirmed in speech held today at the Providence Chamber of Commerce in Providence, Rhode Island, that interest rates will likely increase later this year due to the gradual improvement in the economy.

The Financial Regulatory Improvement Act of 2015, introduced last week by Senate Banking Committee Chairman Richard Shelby (R-Alabama) is aimed at providing regulatory relief for community and regional banks and credit unions, and proposes what Shelby calls "moderate" changes that would increase the transparency of the Federal Reserve.

Former Federal Reserve chairman Ben Bernanke has voiced his displeasure with the provisions of a bi-partisan bill introduced in the Senate earlier this week that would limit the Fed's lending authority and end "too big to fail."

Six federal financial regulatory agencies Thursday issued minimum requirements for state registration and supervision of entities that provide appraisal management services to lenders, underwriters, and other principals in the secondary mortgage market.

According to the FOMC’s statement, this decision was made to “support continued progress toward maximum employment and price stability” and largely factored in energy prices, household spending and incomes, unemployment rates, inflation and other economic influencers. Despite opting to continue with its current interest rates, the FOMC’s statement did recognize that increases in the future are possible.

When the Federal Reserve concludes its monetary policy meeting on Wednesday, the nation could see increased interest rates for the first time in nine years. . . . Experts say there are dozens of factors that must be considered before the Fed can make a decision, and a questionable economy makes it even more difficult.

Lockhart said before a monetary policy liftoff decision is made, he would like to see data that the desired outcomes are being achieved – but he said support for a monetary policy liftoff decision will be a judgment call. But in the big overall economic picture, he said, strength in one aspect of the economy may offset ambiguity in another area.

Most Fed districts reported improvement in residential real estate, namely Cleveland, Richmond, Chicago, Minneapolis, Kansas City, Dallas, and San Francisco. The remaining districts reported steady residential real estate activity, except for New York, which said conditions were softening. Construction activity slowed in Philadelphia, Cleveland, Atlanta, and Dallas due to harsh winter weather conditions.