Inflation Surges as Banks Cut Overdraft Fees
Inflation rose 7 percent from a year earlier as prices for cars gas food and furniture climbed in 2021. Banks including Bank of America announce overdraft fee cuts to 10 from 35 and end non-sufficient funds and ATM overdraft fees amid efforts to ease consumer costs.
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Fed Beige Book Finds Economy Growing Modestly in Late 2021
The Federal Reserve report shows modest growth across 12 regional districts despite supply chain disruptions and labor shortages. Omicron spurred cuts in leisure travel and hospitality spending while some districts noted easing price pressures but high costs persist. The Beige Book informs the upcoming Jan 25 26 policy meeting.
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Industry Rankings present money fund data provided by iMoneyNet Inc outlining performance snapshots and fund categories. The report highlights rankings, net assets, yields, and composition across money market funds tracked by the firm.
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