Ongoing investment in AI infrastructure and steady consumer spending are helping support economic activity.
Recent PCE data points to strong overall demand and persistent inflation pressure, with higher energy costs adding to the rise in headline inflation.
The Federal Open Market Committee voted to keep the federal funds rate target range at 3.75% to 4%, though two members favored an increase.
Federal Reserve Chairman Kevin Warsh said the committee will hold one fewer vote each year to set monetary policy starting next year.
In a letter to the National Association of Insurance Commissioners, ABA said any state move to update insurer data privacy standards should not override the federal standards already governing depository institutions.
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