NEW YORK (Reuters) – A top analyst at Moody’s (NYSE:) said political polarization in the United States will likely complicate budget-making decisions ahead of the 2024 presidential election, which could delay any change of the rating agency’s outlook on the government back to a stable outlook. Moody’s changed the U.S.…

Federal Reserve officials are “gratified” with the progress made so far on bringing down U.S. inflation, but are not yet confident that interest rates are high enough to bring inflation down to 2% target over time, Fed Chairman Jerome Powell said Thursday. “We know that ongoing progress toward our 2%…

President Joe Biden on Thursday celebrated agreements between the United Auto Workers and the Big Three carmakers, while also taking shots at former President Donald Trump, who has attacked Biden for promoting electric vehicles. “When my predecessor was in office, six factories closed across the country. Tens of thousands of…

By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday that the Internal Revenue Service will be able to electronically accept 20 additional tax forms by early 2024, but warned its progress in modernizing systems and improving customer service would be hurt if Congress cuts the…

A brawny U.S. jobs market might finally be showing a hint of flab. One sign was the October employment report that showed the creation of just 150,000 new jobs — and fewer than 100,000 in the private sector. The unemployment rate also edged up to a 21-month high of 3.9%.…

By Pete Schroeder WASHINGTON (Reuters) -The U.S. regulator charged with overseeing the Federal Home Loan Banks said in a report on Tuesday the system is overdue for an overhaul in its mission and structure. The Federal Housing Finance Agency emphasized in the report that there needs to be a clearer…

An earlier version of this report inaccurately characterized the U.S. bond market’s hours on Friday. It is open.There are plenty of closures to be aware of this Veterans Day. But when is the holiday being observed, exactly?  It’s a question spurring plenty of Google searches. Saturday, Nov. 11, marks Veterans…

Federal Reserve Governor Michelle Bowman criticized proposed banking regulations at the 2023 Ohio Bankers League meeting held on Tuesday. The regulations, detailed in a 5,000-page document, include updates to the Community Reinvestment Act (CRA) and increased bank capital requirements. The proposed rules have sparked concerns about the potential destabilization of…

The numbers: Consumer sentiment fell in November for the fourth month in a row due to worries about higher interest rates as well as war in the Middle East. The preliminary reading of the sentiment survey declined to 60.4 from 63.8 in October, the University of Michigan said Friday. It’s…

By Howard Schneider and Lindsay (NYSE:) Dunsmuir WASHINGTON (Reuters) – Federal Reserve policymakers fresh from last week’s decision to hold the policy rate steady are weighing strong economic data, some signs of a slowdown, and the impact of higher long-term bond yields as they consider if they will need to…