Beige Book Indicates Moderate Economic Expansion
According to the most recent Beige Book, economic activity expanded from mid-May through June in all 12 sectors. The majority of those sectors grew at either a moderate or modest pace.
According to the most recent Beige Book, economic activity expanded from mid-May through June in all 12 sectors. The majority of those sectors grew at either a moderate or modest pace.
According to the minutes of the Fed’s most recent policy meeting, the staff’s outlook for economic activity over the first half of 2015 was revised up since December.
Bloomberg reported the Federal Reserve confirmed being “patient” on interest rates means no increase before late April. Risks from overseas are largely offset by domestic strength.
Bloomberg reported the Fed is stepping up its oversight of high-risk leveraged loans, shifting to a deal-by-deal review after its previous industry-wide guidelines were largely ignored.
Bloomberg reported that Fed policy makers signaled they won’t be raising rates anytime soon while suggesting they would tighten credit at a faster pace once the liftoff has begun.
According to the most recent Beige Book report, the 12 Federal Reserve districts indicated economic activity expanded since the previous report. The report also noted that loan demand rose in eight districts and held steady in one.
Bloomberg reported, citing minutes from the July FOMC meeting, Fed officials “were increasingly uncomfortable” with the committee’s forward guidance on keeping its benchmark rate low for a “considerable time.”
MarketWatch reported, citing a survey released by the Federal Reserve, that banks are seeing heightened demand for loans; however they are not doing any major alterations to their standards.
U.S. regulators warned 11 large banks that the plans submitted by first-wave filers are not credible and do not facilitate an orderly resolution under the U.S. bankruptcy code.
Bloomberg reported that U.S. banks eased lending requirments amid a widespread increase in demand during the second quarter.