Wednesday Federal Reserve says 23 biggest banks weathered severe recession scenario in stress test. The results confirm that the banking system remains strong and resilient. The rate of total loan losses varied considerably across the banks, from a low of 1.3% at Charles Schwab to 14.7% at Capital One; credit cards were easily the most problematic loan product.
👀What's the Fed's bank stress tests?
The Fed established the tests following the 2007-2009 ...

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Inflation Slows Again, CPI Shows, and Might Keep Fed on Sidelines
Increase in core CPI in past year slips to 5.3%. Consumer prices rose a scant 0.1% in May, kept in check by cheaper oil. Inflation more broadly showed little sign of rapid deceleration, however.
The yearly rate of inflation slowed to 4% from 4.9%, marking the lowest level since March2021. Grocery and gas prices have been on the wane af...