Federal Reserve Chair Jerome Powell, sworn in earlier this month, testified Thursday before the U.S. Senate Banking Committee.
Although BlackRock started as an investment firm primarily focused on bonds, the fixed-income business has been overshadowed in recent years by the runaway growth in index-tracking and exchange-traded funds, mostly concentrated in stocks.
Personal income climbed 0.4% in January from the prior month, exceeding economists' expectations of a 0.3% increase.
The Goldman Sachs board of directors gave CEO Lloyd Blankfein a 9% pay raise in 2017 to $24 million, and he may have his lower-paid workers in India and Poland to thank.
The index climbed to 130.8 from 125.4 in January, the Conference Board, a Washington-based research association, said Tuesday in a statement. Economists had expected a reading of 127 on average, according to data provider FactSet. The index, based on a survey of consumers' assessment of business and employment conditions, was at its highest since 2000.
Federal Reserve Chair Jerome Powell, sworn in earlier this month, testified Tuesday before the U.S. House of Representatives' Financial Services Committee.
JPMorgan Chase increases its targeted return on tangible common equity - a key measure of profitability - to 17% from 2017's target of 15%, as the U.S. bank benefits from a drop in corporate taxes and rising interest rates.
As the economy picks up and stock markets rise, Citigroup, Bank of America and other big banks are taking advantage of the swing in sentiment to pay themselves more. It helps that memories of the financial crisis are fading.
The Federal Reserve's monetary-committee released minutes of its January meeting, in which members held benchmark U.S. interest rates steady in a range of 1.25% to 1.5%.
We used to think of what's in the public's interest when it comes to securities.