The financial services industry has run TV ads during football games and organized lobbying visits by small-business owners in its fight against the Basel III endgame plan to raise capital requirements for larger lenders. The tactics are beginning to show signs of working.

In her first remarks since the release of a sweeping report on the banks, Federal Housing Finance Agency Director Sandra Thompson urges them to strengthen underwriting and communication with their members' regulators.

The annual inflation rate has dropped to 3.2% in October from its 2022 peak of more than 9% after the Federal Reserve embarked on an aggressive campaign to cool price pressures.

Long-dated Treasury yields had reached the lowest levels in more than a month just a day earlier, attributed to investors and traders positioning for the end of the Fed's historically aggressive tightening cycle.

Consumers under the age of 50 held $9.5 trillion in debt last quarter compared with $9.3 trillion in the second quarter. The increase was the most since the final quarter of 2022.

We believe the Fed has raised rates too high, too quickly, without taking the appropriate time to observe the effects that such drastic changes will have on our economy.

Regulators will now accept feedback until Jan 16, 2024 — a six-week extension — concurrent with a Federal Reserve effort to gather additional information about the potential implications of the proposed capital changes.

Treasury yields climbed and stocks edged lower as consumer inflation data bolstered speculation on another Federal Reserve rate hike — even if the central bank decides to pause next month.

Treasuries fell, extending a selloff in government securities that has rapidly pushed up yields over the past month and threatens to undercut the economy by driving up borrowing costs.

A deal to avoid a government shutdown resolves one immediate risk. But a major auto strike, the resumption of student-loan repayments, and a shutdown that may yet come back after the stop-gap spending deal lapses, could easily shave a percentage point off GDP growth in Q4.