The Latest Breaking News from New York Fed

The decline in the value of Iraq’s national currency and the rise in the prices of foodstuffs and imported goods can be traced back to remarkable change in the policy adopted by the US Treasury and the Federal Reserve Bank of New York. Both bodies have had a policy shift…

Persistent inflation has hit the middle class, minorities, and rural communities the hardest, according to new data from the NY Fed. But things are easing.

The pandemic-era freeze on student debt payments has “dramatically” improved credit scores for Americans who borrowed money to pay for college, the Federal Reserve Bank of New York said.

Nearly 70% of academic economists recently surveyed by the Financial Times in partnership with the Initiative on Global Markets at the University of Chicago’s Booth School of Business expect the US economy to fall into a recession in 2023.   

Americans are putting more on their credit cards and taking out fewer mortgages, as they need to increasingly borrow to cover the higher cost of everyday essentials and respond to rising interest rates.

As mortgage rates rise sharply and mortgage refinancing volumes plunge, American mortgage borrowers’ credit scores are declining a bit. However, most borrowers who qualify for mortgages have near-perfect credit scores.

Federal Reserve Bank of New York executive Lorie Logan will become the 13th president of the Dallas Fed and its first female chief following a seven-month search.

The NFIB small business optimism index for April is scheduled for release at 6:00 a.m. ET. The optimism index has fallen short of market estimates in the last three reports. Analysts expect April's reading declining to 92.9 from March's 93.2. New York Fed President John Williams is set to speak…

U.S. jobs report for April is scheduled for release at 8:30 a.m. ET. Analysts expect nonfarm payrolls rising 400,000 in April, compared with a three-month average growth of 562,000. The unemployment rate is expected to remain unchanged at 3.6% in April. New York Fed President John Williams is set to…