Five organizations representing large banks sent a letter to Federal Reserve Chair Jerome Powell requesting a long and thorough public review process for rule changes that are expected to be rolled out this summer.

The bond market's reenergized bulls may want to dial down their excitement, because their fortunes hinge on whether an abstract, almost elusive number, is as low as they assume.

Bostic said he agreed with the view that "the bar to justify further rate hikes is higher than it was a few months ago."

The Federal Reserve chair said that as the Treasury replenishes its general account at the Fed, it will lead to fewer reserves in the banking system.

Monetary policy officials have finally gone a month without tightening but made it clear more action could lie ahead, suggesting it could be awhile before housing finance costs consistently fall.

The market for wagers on the outlook for central bank policy shows traders now expect the benchmark rate to peak in September, instead of July.

A key gauge of prices closely watched by the Fed continued to rise at a concerning pace. The core CPI rose 0.4% for a third straight month, in line with estimates.

Some 90% of 288 respondents in a Markets Live Pulse survey said companies on both sides of the Atlantic have been raising prices in excess of their own costs since the pandemic began in 2020.

The Federal Reserve Board governor said secular increases to the currency supply limits how much the central bank can shrink its holdings.

The Federal Reserve chair waved off suggestions that recent bank failures demonstrate a need to better separate its authorities. He also noted the importance of clear communication by central bank officials.

The former vice chair for supervision challenged his successor's report on the failure of Silicon Valley Bank, said changes that move away from transparency and consistency 'won't survive' in court.

The Federal Reserve will likely need to raise interest rates further and hold them higher for some time if US price pressures don't cool off and the jobs market shows no sign of slowing.

The president of the Federal Reserve Bank of New York said the performance of office loans is a top supervisory issue, but not an immediate threat to financial stability.

On the face of it, Powell's Federal Reserve this week pushed ahead with what's been its policy for the past year and so did other major central banks. But in reality everything's changed, after a string of bank collapses sent tremors through world markets.

Market pricing for the Fed's March 21-22 meeting has lurched between another quarter-point hike, and the first rate pause in more than a year.

After the failure of two banks between $100 billion and $250 billion of assets, many are asking regulators to change their oversight practices for these banks. The Fed has a wide berth to make a wide array of changes.

Government bonds surged and stocks slid as signs of distress at a California lender spurred broader worries over the US banking sector's debt holdings.

During his second day of congressional testimony this week, the Federal Reserve chair faced several questions about the Consumer Financial Protection Bureau's embattled funding mechanism.

The bond market is doubling down on the prospect of a U.S. recession after Fed Chair Jerome Powell warned of a return to bigger interest-rate hikes to cool inflation.

Shorter-maturity notes led the jump in yields, deepening the inversion of the yield curve and pushing the two-year Treasury rate above 5% for the first time since 2007.