The Federal Reserve stated on Wednesday that it will once again maintain the target range for the federal funds rate between 5.25% and 5.5% just as it did in September and November. In addition, as reported by CNN, the Fed is projecting “three quarter-point cuts in 2024.”
Bloomberg reported that U.S. banking regulators seeking to prevent another global financial meltdown are set to impose new minimums for capital amid predictions that smaller lenders will get easier terms.
The Federal Reserve said it has approved the capital plans of 14 financial institutions in the Comprehensive Capital Analysis and Review. Goldman Sachs and JP Morgan Chase received conditional approval, while the Fed objected to the plans of Ally Financial and BB&T.