Cross River Intelligence Archives

The US economy grew 3.2% in the third-quarter of 2017, a continuation of strong momentum from Q2 GDP growth of 3.1%. This strong GDP growth print comes just after Congress passed the tax reform bill this week. In regulatory news, the new head of the OCC Joseph Otting said that he supports the creation of a banking charter for FinTech firms. Mr. Otting believes that tech ...

The Fed raised interest rates 25 bps this week to a target range of 1.25%-1.5%. On the inflation front, the BLS reported a higher than expected November CPI reading of 2.2% buttressing the Fed’s plan to raise rates three times in 2018. Whole loan investors face greater pressure on net returns as most rate increases have not been passed onto borrowers ...

Greetings, The US labor market posted strong job gains in November with payrolls rising 228,000 and the unemployment rate holding steady at 4.1%. The report suggested that there may have been only residual effects from the hurricanes that hit the US in October, and that job growth is normalizing to its long-term trend. The probability of a 25 bps rate hike next week sta ...

Greetings, The US 3Q GDP growth was revised upwards to 3.3%. Actual GDP has exceeded potential GDP for the first time since Q4 ’17, making the probability of a December rate hike all but certain. Nominee for the Fed Chair Jerome Powell spoke before the Senate Banking Committee. Powell indicated that he plans to stay the course of raising rates set by Yellen in coming years. Powell shared ...