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” - 2 Jerome Powell - 1 Powell - 1 ” Powell - 1 Lightcast - 1 Rachel Sederberg - 1 “ - 1 That’s - 1
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2 mentions found


☆ What Now for the Economy?
  + stars: | 2024-02-05 | by ( Tim Smart | Feb. | At A.M. | ) www.usnews.com   time to read: +4 min
Where does the economy go from here? Consumers are feeling better, expecting that the economy will do well and inflation will subside in the coming 12 months. While the economy ended last year on a strong note, the expectation was that it would cool down as the calendar turned to 2024. Last week, the International Monetary Fund boosted its projection for global growth to 3.1% from its October estimate of 2.9%, citing “greater-than-expected resilience” in the U.S. economy. The Federal Reserve Bank of Atlanta’s GDPNow forecast has the U.S economy growing at a 4.2% clip in the first quarter.
Persons: ”, Jerome Powell, Powell, ” Powell, Lightcast, Rachel Sederberg, “, That’s Organizations: Federal, Labor Department, ” Comerica Bank, Fed, CBS, International Monetary Fund, Federal Reserve Bank, Atlanta’s, Santander Bank, ” Locations: U.S, ” Santander
☆ U.S. banks warn of interest income weakness after upbeat quarter
  + stars: | 2023-07-21 | by ( Niket | Nishant | Jaiveer Shekhawat | ) www.reuters.com   time to read: +2 min
(Reuters) -Comerica and Huntington Bancshares on Friday sharply cut their interest income growth forecasts for 2023, the latest U.S. banks to sound the alarm over faltering loan demand and spike in deposit costs. NII - the difference between what banks make on loans and pay out on deposits - rose for nearly all banks reporting earnings for the April-June quarter, with Comerica and Huntington also topping profit estimates. Mid-sized lender Regions Financial, which also reported results on Friday, said its deposit costs had risen in the second quarter. Comerica slashed its 2023 NII growth forecast to a range of 1% to 2% from 6% to 7% estimated earlier, and its shares fell 3.8%. Its shares slipped 1.3% in late-morning tradeRegions Financial kept its 2023 NII forecast unchanged but its stock declined 3.4%.
Persons: Huntington Bancshares, Mike Segar, Huntington, ”, Christopher Marinac, Janney Montgomery Scott, James Herzog Organizations: Reuters, Comerica, Huntington, Wall, New York Stock Exchange, REUTERS, Federal, Financial, ” Comerica Locations: Manhattan, New York City , New York, U.S
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